Financial Terms Dictionary - Letter S

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S&P 500

The S&P 500 is a market-capitalisation-weighted index of 500 of the largest publicly traded companies in the US, widely regarded as the best single gauge of large-cap US equities.Learn more

S&P 500 VIX index

The S&P 500 VIX, often just called the VIX, is the Volatility Index, which measures the stock market's expectation of volatility based on S&P 500 index options.

S&P/ASX 200 index

The S&P/ASX 200 is an index of the top 200 shares listed on the Australian Securities Exchange, serving as the benchmark institutional investable stock market index in Australia.

S&P/ASX 300

The S&P 300 is a lesser-known index and could be context-specific. Typically, the S&P indices like 500 and 400 are more commonly referenced.

S&P/TSX index

The S&P Index refers generally to any index developed by Standard & Poor’s, including the S&P 500, which tracks the performance of large US stocks.

S&P/TSX Venture Composite Index

The S&P/TSX Venture Composite Index tracks the performance of stocks listed on the TSX Venture Exchange, which includes small-cap Canadian stocks.

Safe Asset

Safe assets are financial instruments believed to be free from the risk of loss, typically including government bonds, gold, and cash equivalents.

Safe Haven

A safe haven is an investment or trade expected to retain or increase its value during times of market turbulence, offering safety from a potential financial loss.

Sales density

Sales density refers to the revenue a retail business generates per unit area, such as per square foot or square meter of used retail space. It is a common metric in retail analysis.Learn more

Sampling

Sampling involves selecting a subset of individuals from a statistical population to estimate characteristics of the whole population.Learn more

Sampling Error

A sampling error occurs when the sample does not perfectly represent the population from which it is drawn, leading to potential errors in statistical analysis and conclusions.

Samurai Bond

A samurai bond is a yen-denominated bond issued in Tokyo by non-Japanese companies, providing issuers access to Japanese capital.

Santa Claus rally

The Santa Claus rally refers to the tendency for the stock market to rise during the last week of December through the first two trading days in January, historically yielding higher returns during these times.

Savings

In economics, the savings definition is the portion of income that is not spent on consumption or taxes and is typically put aside for future use or investment.

Savings account

A savings account is a bank account where you can deposit money that earns interest over time but typically has lower liquidity and withdrawal limits compared to checking accounts.

SBF 120

The SBF 120 Index is a French stock market index, which includes 120 of the most actively traded stocks listed on the Euronext Paris, encompassing companies from various sectors.

SBF 250

Similar to the SBF 120, this would refer to a broader index potentially encompassing the top 250 companies by trading volume or market capitalisation on the Euronext Paris, though it is less commonly referenced than the SBF 120.

Scrip issue

A scrip issue, also known as a bonus issue or a capitalisation issue, involves a company issuing additional shares to shareholders without any cost based on the number of shares they already own.Learn more

SD (credit rating)

An SD credit rating indicates 'selective default', where an entity has defaulted on a specific issue or class of obligations but will continue to meet payment obligations on other issues or classes of obligations.

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SDAX (Small Cap)

The SDAX is a stock market index composed of 70 small-cap companies in Germany. These companies rank immediately below those included in the MDAX, which consists of mid-cap enterprises.

Seasoned equity offering

A seasoned equity offering refers to the process of a public company issuing additional shares to raise capital, after its initial public offering (IPO).

Secondary Market

Secondary markets are markets where investors buy and sell securities they already own. The New York Stock Exchange and NASDAQ are examples of secondary markets.

Secondary shares

Secondary shares are shares that are sold in the secondary market following an IPO. They involve the sale of existing shares directly between investors, without involving the issuing company.

Sector indices

Sector indices are specific indices that track the performance of a particular sector of the economy, such as technology, healthcare, or finance, helping investors to gauge the health and performance of specific industry sectors.

Securities

Securities are financial instruments that represent some type of financial value. They include stocks, bonds, and options.Learn more

Securities and Exchange Commission (SEC)

The SEC, or Securities and Exchange Commission, is a US government agency responsible for enforcing federal securities laws, proposing securities rules, and regulating the securities industry.Learn more

Securities fraud

Securities fraud involves deceptive practices in the stock or commodities markets, leading investors to make purchase or sale decisions based on false information, frequently resulting in losses, in violation of securities laws.

Securities market

The securities market is a component of the wider financial market where participants can issue new securities and purchase or sell existing ones—typically in a regulated and formal exchange.Learn more

Securities market participants

Securities market participants include all entities involved in the buying, selling, and issuance of securities. This group comprises individual investors, institutional investors, banks, fund managers, and brokers.

Securities offering

A securities offering is the process of issuing new securities to raise funds from investors, commonly through methods like public offerings or private placements.Learn more

Security Analysis

Security analysis involves examining financial data and economic factors to evaluate the value of various securities. This process helps investors and financial professionals make informed investment decisions.Learn more

Sell-Off

A sell-off occurs when a large volume of securities is quickly sold on the market, typically leading to a sharp decline in their prices due to high supply and low demand.Learn more

Selling climax

A selling climax happens when a rapid and intense selling of securities drives prices down steeply, but often concludes with a price reversal as the market stabilises.Learn more

Sensitivity Analysis

Sensitivity analysis examines how different values of an independent variable affect a particular dependent variable under a given set of assumptions, often used in financial modelling to predict different scenarios.

Sentiment Trading

Sentiment trading involves making trading decisions based on market sentiment, which is the overall attitude of investors toward a particular security or financial market.Learn more

Sesame Credit

Sesame Credit is a credit scoring system developed by Ant Financial, an affiliate of the Chinese Alibaba Group. It uses data from Alibaba's services to calculate a person’s creditworthiness.

SET Index

The SET Index is the primary index of the Stock Exchange of Thailand (SET) and includes all the listed companies on the exchange, serving as a gauge of the overall market performance in Thailand.

SET100 Index

The SET100 Index is a stock market index of the top 100 companies by market capitalization listed on the Stock Exchange of Thailand, representing a broad spectrum of industries.

SET50 Index

The SET50 Index tracks the performance of the top 50 companies, in terms of market capitalisation and liquidity, listed on the Stock Exchange of Thailand.

Settlement date

The settle date, or settlement date, in finance, is the day on which a trade must be finalised, and the buyer must make payment to the seller while the seller delivers the assets.

Shadow stock

Phantom shares are a type of deferred compensation plan that gives the employees the right to receive cash payments after a specific period of time or upon meeting certain goals, based on the value of the company’s stock.Learn more

Shanghai index

The Shanghai Index, specifically the Shanghai Composite Index, is the stock market index that measures all the stocks listed on the Shanghai Stock Exchange, reflecting the overall market performance in mainland China.

Shape risk

Shape risk refers to the risk associated with changes in the shape of the yield curve, which can affect the values of fixed-income securities differently depending on their maturity and rate sensitivity.

A share represents a unit of ownership in a company and entitles the holder to a proportion of the corporation’s capital and earnings, reflected in voting rights and potential dividends.Learn more

Share buyback

A share buyback, or stock repurchase, occurs when a company buys back its own shares from the marketplace, reducing the number of outstanding shares.Learn more

Share purchase issue

A share purchase issue generally involves scenarios where a company issues new shares to investors, whether through public offerings or private placements, increasing the total number of shares outstanding.

Shareholder

A shareholder, also known as a stockholder, is an individual or institution that legally owns one or more shares of stock in a public or private corporation, thereby holding a portion of the company’s ownership.Learn more

Shareholder Equity

Shareholder equity, also known as shareholders’ equity or stockholders' equity, represents the net assets of a company (assets minus liabilities) and shows the capital that shareholders own.

Sharpe Ratio

The Sharpe Ratio is a measure to evaluate the performance of an investment compared to a risk-free asset, after adjusting for its risk. It is calculated by subtracting the risk-free return from the return of the investment and dividing the result by the investment's standard deviation.

Shelf registration

Shelf registration is a regulatory provision that allows an issuer to register a new issue of securities without selling the entire issue at once. The issuer can sell portions of the registered offering over a period of typically up to three years.

Shenzhen Stock Exchange

The Shenzhen Stock Exchange is a major securities exchange in China, hosting many tech companies and playing a significant role in global capital markets with innovative instruments and listings.Learn more

Short Position

A short position involves selling securities that one does not own, typically borrowed, with the aim of purchasing them back at a lower price to make a profit.Learn more

Short selling

Short selling is a trading strategy based on speculation that a stock or other financial instrument's price will decline. It involves borrowing a security and selling it on the open market, planning to buy it back later at a lower price.

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Short squeeze

A short squeeze occurs when a stock or other asset jumps sharply higher, forcing traders who had bet that its price would fall, to buy it in order to forestall even greater losses, driving the price up further.

Short-term investment fund

A short-term investment fund (STIF) is a fund that invests in short-term debt securities such as government bonds, treasury bills, and commercial paper, aiming to offer investors liquidity and low risk.

Short-term rating

A short term rating assesses the creditworthiness of a debtor's ability to repay short-term financial obligations, typically looking at instruments with maturities of less than one year.

Shrinkflation

Shrinkflation occurs when a product's size or quantity decreases but its price remains the same, effectively a hidden form of inflation as consumers get less for their money.

Silk Route

Historically, the Silk Route was an ancient network of trade paths connecting the East and West, crucial for the cultural, commercial, and technological interactions between the regions.

Silver Parachute

A silver parachute is a form of compensation package provided to senior executives when they leave a company, typically smaller than golden parachutes and often associated with retirement packages.

Single-loss expectancy (SLE)

Single loss expectancy or SLE is a calculation used in risk management to determine the expected monetary loss every time a specific threat materialises against a specific asset.Learn more

Single-tranche CDO

A single tranche CDO is a type of collateralised debt obligation that involves just one tranche or slice of credit risk, tailored to the risk and return requirements of a specific investor.

SITRA

Sitra is the Finnish Innovation Fund, an independent public foundation that aims to promote stable and balanced development in Finland, future-oriented research, and innovative trials and ventures.

Six Sigma Certification

Six Sigma certification demonstrates an individual's ability to identify defects or errors in a business process and eliminate them, attaining levels of certification such as Green Belt and Black Belt.

SIX Swiss Exchange

The SIX Swiss Exchange is a major stock exchange based in Zurich, Switzerland, known for its high standards of transparency and efficiency in trading securities like stocks, bonds, and derivatives.

Slippage

Slippage refers to the difference between the expected price of a trade and the price at which the trade is actually executed, often occurring during periods of higher volatility.Learn more

Slush fund

A slush fund is a reserve of money used for illicit purposes, especially political bribery or manipulation. However, it can also refer to a contingency fund.

SmallCap 2000 index

The US Small Cap 2000 Index tracks the performance of 2000 small-cap US companies, representing the smaller end of the US equities market.

Smart Contracts

Smart contracts are self-executing contracts with the terms of the agreement directly written into code, running on blockchain technology that automates enforcement, management, and payment.

Social dividend

A social dividend is a payment made from the profits of publicly owned enterprises or the revenue generated from natural resources, distributed to the population to provide a basic income.

Social earnings ratio

The social earnings ratio measures a company’s social impact in financial terms, comparing a firm’s social impact to its profitability.

Social Impact Statement

Social impact refers to the effect an organisation's actions have on the well-being of the community. It encompasses a broad range of areas, including employment, health, environment, and more.

Social return on investment

Social return on investment is a method for measuring the extra-financial value relative to resources invested. It provides a framework for understanding and quantifying the social, economic, and environmental benefits.

Social trading

Social trading is a form of investing that allows investors to observe the trading behavior of their peers or experienced traders and to follow or copy their trading strategies using social networking tools.

Socially responsible investing (SRI)

Socially responsible investing involves choosing investments based on both financial return and social/environmental good to bring about social change.Learn more

Société Générale

Societe Generale is one of Europe's leading financial services groups, based in France, offering a wide range of financial solutions and services across personal banking, investment banking, asset management, and more.

Solvency Ratio

Solvency ratios measure a company's ability to meet its long-term debts and financial obligations, indicating whether a company’s cash flow is sufficient to maintain its operations and grow.

Solvent

Solvent is a way of describing a company or individual when they have enough assets to cover all of their liabilities, indicating financial health and stability.Learn more

Sortino ratio

The Sortino ratio is a statistical tool that measures the performance of an investment relative to its downward deviation. It is similar to the Sharpe ratio but focuses only on the negative volatility of the investment.

Sovereign

In finance, sovereign typically refers to bonds issued by a national government. These bonds are considered low-risk compared to other types of debt because they are backed by the government.

Sovereign Wealth Fund

A sovereign wealth fund is a state-owned investment fund composed of money generated by the government, often derived from surplus reserves or revenue from natural resources.

Special Dividend

A special dividend is a one-time distribution of earnings to shareholders, which is separate from any regular dividend that the company might offer, often issued after exceptionally strong company earnings.

Special memorandum account (SMA)

A special memorandum account (SMA) is a line of credit that brokerage customers can use, created when the market value of securities in a margin account increases, giving additional buying power.

Special purpose acquisition company (SPAC)

A SPAC, or 'special purpose acquisition company' is a company that is set up solely to raise capital through an IPO to acquire another existing company. It is often referred to as a 'blank check company' since investors do not know in advance which company will be acquired.

Specialized investment fund

Specialised funds are investment funds that focus on specific sectors or market niches, such as technology, healthcare, or commodities, offering targeted exposure rather than diversified investment.

Specific risk

Specific risk, also known as unsystematic risk, is a type of risk that affects a very small number of assets, such as a particular company or industry sector, as opposed to the whole market.

Spectral risk measure (SRM)

A spectral risk measure is a financial metric that weights the outcomes of a portfolio's returns by a risk-averse function, providing a more comprehensive assessment of risk than traditional measures.

Speculative attack

A speculative attack in finance occurs when traders sell off a country's currency due to anticipated economic downturn or potential governmental default, significantly affecting the country's exchange rate.Learn more

Speculative demand

Speculative demand refers to the demand for an asset based not on its fundamental value but on the expectation that its price will rise in the future, allowing the speculator to sell at a profit.Learn more

Speculative grade liquidity

Speculative grade liquidity refers to the liquidity status of companies rated 'BB' or lower due to their higher risk of default. These ratings affect the company's ability to access capital and maintain cash flow.

Spin-off

A spin-off occurs when a company divides parts of its business to create a new, independent company, distributing shares of the new company to existing shareholders.

Split Payroll

Split payroll is a system used by multinational companies where an employee's salary is divided and paid in different currencies in the countries where the employee works and lives.

Split share corporation

A split share corporation is a type of investment that divides the benefits of ownership into different types of shares, typically common and preferred shares, each receiving different dividends and capital appreciation rights.

Spot

In finance, 'spot' refers to the current price in the marketplace at which a particular asset can be bought or sold for immediate delivery.Learn more

Spot contract

A spot contract is a contract of buying or selling a commodity, security, or currency for immediate settlement on the spot date, which is normally two business days after the trade date.

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Spot date

The spot date in foreign exchange transactions is the day when a spot contract is settled, meaning the currencies are exchanged. This is typically two business days from the trade date.

Spot Trading

Spot trading involves buying and selling financial instruments, commodities, or currencies for immediate delivery on a specified spot date, unlike future contracts where delivery is set at a later date.

Spread (Difference)

Spread refers to the difference between two prices, rates, or yields. In finance, it commonly describes the gap between the bid and ask prices of a security and is generally the main way derivatives brokers make money.Learn more

Spread trade

A spread trade involves simultaneously buying and selling two related securities or commodities with the expectation that the price gap between them will change.

Squeeze-out

Squeeze out is a process where majority shareholders can compel minority shareholders to sell their shares at a fair price, often following a takeover, to consolidate control over the company.Learn more

SSE Composite Index

The SSE Composite Index is a stock market index of all stocks that are traded at the Shanghai Stock Exchange, serving as a benchmark for the overall Chinese stock market.

Stagflation

Stagflation is an economic condition characterised by slow economic growth, high unemployment, and rising prices (inflation), typically presenting a challenging situation for economic policy.Learn more

Stagnation

Stagnation refers to a prolonged period of little or no growth in an economy, characterised by low consumer demand and business investment.

Stakeholder

A stakeholder is an individual, group, or organisation that has an interest in or is affected by the activities and outcomes of a company or project. Stakeholders can be internal (employees) or external (suppliers, society, customers).

Staking

In cryptocurrency, staking involves holding funds in a cryptocurrency wallet to support the operations of a blockchain network. Participants are typically rewarded with additional cryptocurrency.Learn more

Stalking Horse Bidder

A stalking horse bidder is an entity chosen by a bankrupt company to make the first bid on its assets. This sets the minimum acceptable bid and helps prevent low-ball offers.Learn more

Standard & Poor's

Standard and Poor’s (S&P) is a global financial services company best known for its wide-ranging credit ratings, indices such as the S&P 500, and market analysis.

Standard Deviation

Standard deviation is a statistical measure that quantifies the amount of variation or dispersion of a set of values. In finance, it is used to measure the volatility or risk of an investment's returns.

Standardised approach (credit risk)

The standardised approach for credit risk is a method set by regulatory authorities for banks to calculate the minimum capital they must hold to cover potential losses from credit risk exposures.

State prices

In financial theory, state prices are hypothetical prices in a state-contingent claims market, representing the cost today of a payoff conditional on a particular state of the world occurring.Learn more

Statistical arbitrage

Statistical arbitrage involves using quantitative methods to exploit statistical mispricings of similar assets based on their historical trading patterns.

Statutory liquidity ratio

The statutory liquidity ratio is a term used by banks which refers to the minimum percentage of deposits that the bank has to maintain in the form of liquid cash, gold, or other securities.

Sterling ratio

The Sterling ratio is a risk-adjusted performance metric that evaluates the return on an investment relative to its downside risk over a specific time frame.

Stimulus package

A stimulus package is a collection of economic measures put together by a government to stimulate a floundering economy, typically involving a combination of spending initiatives and tax cuts.

Stochastic RSI

The Stochastic RSI indicator is a derivative of the standard RSI (Relative Strength Index), combining features of the Stochastic Oscillator with the RSI to provide more sensitivity to market movements.

Stock certificate

A stock certificate is a physical piece of paper representing ownership in a company, evidencing the holder as the legal owner of the shares.

Stock Code

A stock code is a unique series of letters or numbers assigned to a publicly-traded company on a particular stock exchange, also known as a ticker symbol.Learn more

Stock Dividend

A stock dividend is a dividend payment made in the form of additional shares rather than cash, offering shareholders the option to increase their shareholding without dilution.Learn more

Stock ETF

A stock ETF (Exchange-Traded Fund) tracks an index, sector, commodity, or other assets, but can be purchased or sold on a stock exchange the same as a regular stock.

Stock fund

A stock fund is a fund that invests predominantly in equities, providing investors with diversified exposure to the stock market through a single investment product.

Stock Index

A stock index is a statistical measure that represents the value of a set of stocks. It tracks the performance of a basket of stocks to reflect the overall market or a specific sector's health.

Stock Market

The stock market is the aggregation of buyers and sellers of stocks, which represent ownership claims on businesses; these may include securities listed on a public stock exchange.Learn more

Stock market data systems

Market data systems are technological solutions that collect, process, and distribute real-time information about securities prices, trading volume, and other market-related data.

Stock market prediction

Stock market prediction involves the analysis of data to forecast future movements in stock prices. Techniques range from statistical analysis to machine learning and sentiment analysis.Learn more

Stock market simulator

A stock market simulator is a program or application that replicates the behavior of the stock market, allowing users to practice trading without financial risk.Learn more

Stock Picking

Stock picking is the process of choosing stocks for investment. The decision is typically based on fundamental or technical analysis, or both, to identify stocks believed to offer superior returns.Learn more

Stock quote

What is a stock quote? That's the current price of a stock as quoted on an exchange, which typically includes information on the high, low, and closing prices of a stock for the day.

Stock selection criterion

Stock selection criterion refers to the set of parameters or guidelines an investor or analyst uses to evaluate the potential performance of a particular stock before buying.

Stock Split

A stock split is an action by a company to divide its existing shares into multiple shares to boost the liquidity of the shares, although the market capitalization remains the same, affecting neither the company's value nor the proportionate ownership.

Stock transfer agent

A stock transfer agent is a third-party firm hired by a company to track and manage changes in stock ownership, handle lost or damaged certificates, and manage dividends and other duties.

Stock valuation

Stock valuation is the process of determining the intrinsic value of a stock based on future earnings, market position, and financial health to decide if the stock is priced appropriately.Learn more

Stockbroker

A stockbroker is a professional who executes buy and sell orders for stocks and other securities on behalf of clients, for which they earn a commission.

StockTwits

Stocktwits is a social media platform designed for sharing ideas between investors, traders, and entrepreneurs about the stock market.

Stop Order

A stop order is an order to buy or sell a stock once the price of the stock reaches a specified price, known as the stop price.Learn more

Stop Out

Stopped out refers to the execution of a stop order, typically a stop-loss order, where the trade is closed out at a predetermined point to prevent further losses in a position.

Stop-Limit Order

What is a stop limit order? That's an order that combines the features of a stop order with those of a limit order. Once the stop price is reached, the stop-limit order becomes a limit order to buy or sell at the limit price or better.

Strategic financial management

Strategic financial management involves planning, directing, monitoring, organizing, and controlling the monetary resources of an organization to achieve its objectives and maximise its value.

Strategic sustainable investing

Strategic sustainable investing focuses on generating long-term competitive financial returns and positive societal impact by investing in sustainable industries or companies.

Strategy indices

Strategy indices are indices that track the performance of a specific trading strategy. These indices use quantitative algorithms to select and weight components based on particular rules set around the strategy.

Strike price = exercise price

The strike price, or exercise price, is the price at which the holder of an option can buy (in the case of a call) or sell (in the case of a put) the underlying asset or stock, as specified in the option contract.

Structured Finance

Structured finance definition is of complex financial instruments offered by banks and other financial institutions. These instruments, which include securitisation of various asset types, collateralised debt obligations, and syndicated loans, are usually tailored to unique needs of investors often dealing with risk.

Structured investment vehicle

A structured investment vehicle (SIV) is a fund that borrows money by issuing short-term securities at low interest and then lends that money by purchasing long-term securities at higher interest, profiting from the spread between these interest rates.

Structured Product

Structured products are pre-packaged investments that usually include assets linked to interest plus one or more derivatives. These products are typically designed to facilitate highly customised risk-return objectives.

Stub

Stub period refers to a shorter or irregular period at the beginning or end of a financial schedule or a bond’s accumulation period, often resulting from the alignment of financial calendars.Learn more

Subprime mortgage crisis

The subprime mortgage crisis was a significant global financial event that occurred from 2007 to 2010, where a rapid decline in home prices and high default rates on 'subprime' and adjustable-rate mortgages precipitated a broad banking emergency.

Subscription

Capital subscription refers to the process of investors committing by contract to fund a certain amount of share capital into a corporation.

Subscription price

Subscription price is the price at which existing shareholders can purchase additional shares in a company during a rights issue. This price is typically set below the current market price to incentivise participation.Learn more

Subscription rights

Subscription rights are privileges granted to existing shareholders to buy new shares of a company at a predetermined price, usually at a discount, before the new shares are offered to the public.

Success trap

A success trap is a strategic pitfall that occurs when successful strategies are followed without due consideration to changing conditions, potentially leading to failure when those conditions evolve.

Superannuation

Superannuation is an organisational pension program created by a company for the benefit of its employees, predominantly found in Australia, where it is mandatory for employers to contribute to pension plans.

Superhedging price

Superhedging price is the minimal cost needed to set up a portfolio that starts with initial capital and ends up non-negative under every scenario of a financial model.

Supermajority amendment

A supermajority amendment is a rule or requirement in a company's charter that requires a large majority (often 67-90%) of shareholders to approve important changes, such as mergers or charter amendments.

Supply

In economics, supply is the total amount of a specific good or service that is available to consumers at current prices over a given period.Learn more

Sustainable growth rate

Sustainable growth rate is the maximum rate at which a company can grow its sales and earnings without increasing its leverage, relying solely on its own revenue generation.

Swap

A swap is a derivative contract through which two parties exchange financial instruments, such as interest rates, commodities, or foreign exchange, often used to manage risk or speculate.

Swap

A swap is a derivative contract through which two parties exchange financial instruments, such as interest rates, commodities, or foreign exchange, often used to manage risk or speculate.

Swap dealer

A swap dealer is an entity that trades swaps, options, and other derivatives in the financial markets, typically acting as a counterparty in the swap market for a variety of clients.

Swap Execution Facility

A swap execution facility (SEF) is a trading platform that provides pre-trade information and a mechanism for executing swap transactions among eligible participants.

Swap Rate

Swap rate is the fixed rate that one party in an interest rate swap requires in exchange for the uncertainty of having to pay a short-term (floating) rate over time.

Swap spread

Swap spread is the difference between the fixed interest rate of a swap and the yield of a comparable maturity government bond, used as a benchmark for the swap’s relative value.Learn more

Swap transaction

A swap transaction involves exchanging financial instruments or cash flows between two parties on specified dates in the future, according to conditions agreed upon at the start of the contract.Learn more

Swing trading

Swing trading is a trading strategy that involves holding positions in stocks or other financial instruments for several days to several weeks, with an aim to profit from expected price moves.

Swiss Market Index (SMI)

The Swiss Market Index is a major stock market index which tracks the performance of the largest and most liquid stocks listed on the Swiss Exchange.

Swiss Performance Index (SPI)

The SPI Swiss Performance Index measures the performance of all Swiss equity securities that are traded on the Swiss Exchange and are considered investable and liquid.

SWOT analysis

SWOT analysis is a strategic planning technique used to identify the Strengths, Weaknesses, Opportunities, and Threats related to a project or in a business venture.

Syndicate risk

Syndicate trading refers to trading conducted by a group of investment banks and brokerage firms that come together to manage the offering of new securities to the market.

Synthetic CDO

Synthetic CDOs (collateralised debt obligations) are financial instruments that package and sell the cash flows from a portfolio of credit default swaps or other non-cash assets to investors.

Synthetic replication

Synthetic replication is an investment strategy used by some ETFs and other investment vehicles to replicate the performance of an index by using derivatives like swaps and options instead of holding securities directly.

Systematic risk

Systematic risk refers to the risk inherent to the entire market or market segment, which cannot be mitigated or eliminated by diversification. It's often influenced by economic, geopolitical, and financial factors.

Systematic trading

Systematic trading involves using computer algorithms to trade based on technical and statistical criteria, often with little or no human intervention beyond the programming and monitoring stages.Learn more

Systemic Risk

Systemic risk is the risk of collapse of an entire financial system or entire market, due to the interconnectivity and interdependencies of its entities. It can arise from the failure of a single entity or group of entities.

Systemically important payment systems (SIPS)

Systemically important payment systems are payment systems whose disruption could cause serious harm to the overall economy due to their size or role in the financial industry.

SZSE Component Index

The SZSE Component Index is a major stock market index tracking the performance of shares listed on the Shenzhen Stock Exchange.