Glossary
- Face value
- Fair value
- An option value derived from a mathematical option valuation model
- Fannie Mae
- Securities issued by the Federal National Mortgage Association (FNMA) of the US.
- Fast market
- Rapid movement in a market caused by strong interest by buyers and/or sellers. In such circumstances price levels may be omitted and bid and offer quotations may occur too rapidly to be fully reported.
- Fill or kill order
- An order submitted to the order book with a specified size and at the option of the member firm, a specified limit price which either executes in its entirety against eligible orders at the price of those orders or is rejected in full from the order book.
- Final dividend
- The dividend paid by a company at the end of its financial year, recommended by the directors, but authorised by the shareholders at the company’s Annual General Meeting.
- Financial future
- A futures contract based on a financial instrument.
- Financial Services Action Plan (FSAP)
- The FSAP is the European Commission’s response towards improving the single market in financial services. Adopted in 1999, the FSAP contains a list of 42 measures to be implemented, grouped around four strategic objectives (retail markets; wholesale; prudential rules and supervision; and wider conditions for an optimal single financial market). The Markets in Financial Instruments Directive forms a major part of the implementation of the FSAP.
- Firm quote
- A market-maker’s quote which is a price which he/she is committed to deal.
- First notice day
- The first day on which notices of intention to deliver actual commodities against futures market positions can be received.
