Specialist's display bookA display book was traditionally a written chronological record of all limit, stop, and short sale orders that had been placed with a specialist for an…
SpeculatorWhen you make a financial commitment because you believe something will happen in the market where you're trading that will provide a profit, you are…
Spending planA spending plan can help you manage your money more effectively, live within your income limits, reduce your reliance on consumer credit, and save for the…
Spin-offIn a spin-off, a company sets up one of its existing subsidiaries or divisions as a separate company.
Split-funded annuityA split-funded annuity lets you begin receiving income from a portion of your principal immediately, while the rest of the money goes into a deferred…
SpoofingSome market analysts maintain that the increased volatility in stock markets may be the result of an illegal practice known as spoofing, or phantom bids.
Spot marketCommodities and foreign currencies are traded for immediate delivery and payment on the spot market, also known as a cash market.
Spot priceThe spot, or cash, price is the price of commodities and foreign currencies that are being sold for immediate delivery with payment in cash.
SpreadIn the most general sense, a spread is the difference between two similar measures.
Stale-Dated CheckPresented to the paying bank 180 days (6 months) or more after the original issue date.
Standard & Poor's (S&P)Standard & Poor's (S&P) is an investment services company that rates bonds, stock, commercial paper, and insurance companies.
Standard & Poor's 500 Index (S&P 500)The benchmark Standard & Poor's 500 Index, widely referred to as the S&P 500, tracks the performance of 500 widely held large-cap US stocks in the…
Standard & Poor's Depositary Receipt (SPDR)When you buy SPDRs - pronounced spiders - you're buying shares in a unit investment trust (UIT) that owns a portfolio of stocks included in Standard &…
Standard & Poor's/BARRA Growth and Value IndexesSome investors favor growth stocks while others favor value stocks. Since 1992, results of those investment styles, which tend to produce different…
standard deductionReduces the income subject to tax and varies depending on filing status, age, blindness, and dependency.
Standard deviationStandard deviation is a statistical measurement of how far a variable quantity, such as the price of a stock, moves above or below its average value.
Standard payment instructionsYou must pay your credit card bill in a manner that meets all the following conditions: You must pay in U.S.
StartupWhile any new company could be considered a start-up, the description is usually applied to aggressive young companies that are actively courting private…
State Chartered Credit UnionA credit union organized under the laws of a State and chartered by that State to conduct the business of banking.
State CodeA two-digit FIPS (Federal Information Processing Standards) code that identifies the state where the property is located.
State guaranty fundsState guaranty funds, which are offered in every state, protect contract owners against the insolvency of an insurance company that has issued insurance…
State Optional Retirement ProgramA defined contribution retirement plan offered as an alternative to SCRS . The State Optional Retirement Program ( State ORP ) is available to all state…
StatementA summary of all transactions that occurred over the preceding month and could be associated with a deposit account or a credit card account.
Statutory votingWhen shareholders vote for candidates nominated to serve on a company's board of directors, they usually cast their ballots using statutory voting.
Step-up in basisWhen you inherit assets, such as securities or property, they are stepped-up in basis.
Stochastic modelingStochastic modeling is a statistical process that uses probability and random variables to predict a range of probable investment performances.
stockA share of stock that represents ownership in the company that issues it. The price of the stock goes up and down, depending on how the company performs…
Stock certificateA stock certificate is a paper document that represents ownership in a corporation.
Stock marketA stock market may be a physical place, sometimes known as a stock exchange, where brokers gather to buy and sell stocks and other securities.
Stock optionA stock option, or equity option, is a contract that gives its buyer the right to buy or sell a specific stock at a preset price during a certain time…
Stock splitWhen a company wants to make its shares more attractive and affordable to a greater number of investors, it may authorize a stock split to create more…
Stop orderYou can issue a stop order, which instructs your broker to buy or sell a security once it trades at a certain price, called the stop price.
Stop PaymentAn order not to pay a check that has been issued but not yet cashed. If requested soon enough, the check will not be debited from the payer's account.
Stop Payment FeeA charge for a stop-payment order, which is a request by a customer that the institution not pay a particular check previously written by the customer.
Stop priceWhen you give an order to buy or sell a stock or other security once it has reached a certain price, the price you name is known as the stop price.
Stop-limit orderA stop-limit is a combination order that instructs your broker to buy or sell a stock once its price hits a certain target, known as the stop price, but…
StraddleA straddle is hedging strategy that involves buying or selling a put and a call option on the same underlying instrument at the same strike price and with…
Straight lifeA straight life insurance policy is a type of permanent insurance that provides a guaranteed death benefit and has fixed premiums.
StrangleA strangle is hedging strategy in which you buy or sell a put and a call option on the same underlying instrument with the same expiration date but at…
Street nameThe term used to describe securities that are held in the name of your brokerage firm but that still belong to you.
Strike priceThe strike price, also called the exercise price, is the price at which you as an options holder can buy or sell the stock or other financial instrument…
STRIPSSTRIPS, an acronym for separate trading of registered interest and principal of securities, are special issues of US Treasury zero-coupon bonds.
Structured productFinancial institutions create investment products, known generically as structured products, that trade on a stock exchange and link the return on an…
Stub stockWhen a company has a negative net worth as a result of being bought out or going bankrupt, it may convert some of the bonds it has issued into shares of…
Student LoanLoans made, insured, or guaranteed under any program authorized by the Higher Education Act. Loan funds are used by the borrower for education purposes.
SubaccountThe separate account funds to which you allocate your variable annuity premiums are sometimes called subaccounts.
subclassEach asset class - stock, bonds, and cash equivalents, for example - is made up of a number of different groups of investments called subclasses.
SubmittedThe term used to collectively describe those FDM disclosure report Review Statuses that are not Draft.
Submitted DateThe original date the filer electronically submitted a financial disclosure report.
Subordinated debtSubordinated debt generally refers to debt securities that have a secondary or lesser claim to the issuer's assets than more senior debt, should the…
Subprime“Prime” and “Subprime” refers to the interest rate and terms of the loan based on the borrower’s credit history.
Subprime MortgagesA classification of mortgages with a higher perceived risk of default than prime and Alt-A loans.
Subscription priceThe subscription price is the discounted price at which a current shareholder can buy additional shares of company stock before these newly available…
Subscription rightIf a corporation's charter has a preemptive rights clause, before the company offers a new issue of securities to the public, it must offer existing…
Substitute checkA substitute check is a paper copy of the front and back of the original check.
Suitability rulesSelf regulatory organizations (SROs), such as NASD, securities exchanges, and individual brokerage firms require that stockbrokers ensure that the…
Supervised LenderA person authorized to make or take assignments of most consumer loans and residential mortgages, either under a license issued by the Administrator…
Supervised LoansConsumer loans, including loans made with open-end credit, in which the finance charge is greater than 12.
supportFor dependency test purposes, support includes food, clothing, shelter, education, medical and dental care, recreation, and transportation.
Surrender feeA surrender fee is the penalty you owe if you withdraw money from an annuity or mutual fund within a certain time period after purchase.
Survivorship lifeSurvivorship life insurance, also known as a second-to-die policy, is permanent insurance that covers the lives of two people and pays the death benefit…
Suspended tradingSuspended trading means that an exchange has temporarily stopped trading in a particular stock or other security.
SuspensionThe temporary disqualification of a firm or individual from contracting with the government or participating in government programs, pending the outcome…
SwapWhen you swap or exchange securities, you sell one security and buy a comparable one almost simultaneously.
Sweep accountA brokerage firm or bank may automatically transfer - or sweep - a client's uninvested or surplus funds into a designated account.
SyndicateWhen a group of investment banks works together to underwrite and distribute a new security issue, they are acting as a syndicate.
Syntactical EditsThe loan applications will not be loaded to the FFIEC database. If they should be included on the FFIEC database, the data must be corrected.
Synthetic investmentA synthetic investment simulates the return of an actual investment, but the return is actually created by using a combination of financial instruments…
Systematic riskSystematic risk, also called market risk, is risk that's characteristic of an entire market, a specific asset class, or a portfolio invested in that asset…
Systematic withdrawalSystematic withdrawal is a method of receiving income in regular installments from your mutual fund accounts, retirement plans, or annuity contracts.