A company that is insolvent but continues to operate. This is done before restructuring or a bail out occur.

Selling a security at the same price as the last time but higher than the one prior to it. Refer to minus tick, plus tick, and zero minus tick,

When a security sells at the price the last transaction had. This price is lower than the transaction prior to that one. Refer to minus tick, plus tick and zero plus tick.

A yield curve showing discounts for maturities from a starting point to present. This is done through stripping the yield curve.

A sway exchanging periodic payments for one lump payment at maturation.

A swap that exchanges floating for fixed rates at maturation. There are no intervening payments during the transaction. They are long term and last 10 or more years. Refer to annual inflation swap and inflation swap.

A convertible bond that is discounted and exchanged into stock. While it is a bond it acquires interest.

A discounted bond that is traded and pays no coupon interest during its life. The difference between par value and discount value generates profit.

A spread with the long position in cap or call and the short on the floor or put. This also occurs vice versa. Refer to collar.

The final speculation of a japanese company to boost nonoperating income.

A japanese congromerate with one company taking control. It has been banned since the mid 1940s and is replaced by keiretsu.

The probability of bankruptcy. It is based on five financial ratios.

an early mortality table which showed the actual mortality experienced by those insured by major insurers between 1925 and 1934.