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Glossary

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  28. 0-9
A la criée
A la criée is an auction system where dealings are conducted by open-outcry.
Abandonment
Allowing an option to expire unexercised. Also, withdrawal from a cancellable forward contract to purchase securities.
Accrued interest
The amount of interest accumulated between the most recent payment and the sale of a fixed-interest security. For most bonds, accrued interest must be added to the purchase price, but that amount will be recovered by the purchaser in the next interest payment.
Action
French for share.
Action de jouissance
Share which grants the right to participate in the net profit of the company without conferring ownership rights. French/Belgian term.
Action ordinaire
French ordinary share.
Action privilégiée
French for preference share.
Active fund
A fund in which the fund manager actively manages investments.
Active management
Fund managers who strive to outperform the market by identifying stocks that could produce better returns and beat the overall market (or target index).
Actuals
The physical or cash commodity, as distinguished from futures contracts.