Omnibus Account
What is an Omnibus Account An Omnibus account is a single account that is used to hold securities for multiple clients. The account is maintained by a broker, who handles all of the transactions on behalf of the clients. This arrangement can be beneficial for both the broker and the clients, as it can simplify the accounting process and reduce...
Oil Field
DefinitionAn "oil field" or "oilfield" is a region with an abundance of oil wells extracting petroleum from below ground. Because the oil reservoirs typically extend over a large area, possibly several hundred kilometres across, full exploitation entails multiple wells scattered across the area. In addition, there may be exploratory wells probing the edges, pipelines to transport the oil elsewhere,...
Oil Services Industry ETF
What is 'Oil Services Industry ETF' A sector exchange-traded fund (ETF) that invests in companies engaged in providing services such as drilling and seismic testing to the oil exploration & production (E&P) industry. Oil service companies generally do not produce oil and gas themselves, since their core competency lies in supplying services and associated products to energy...
Old Lady
What is 'Old Lady' An eighteenth century nickname for the Bank of England. The full name is the Old Lady of Threadneedle Street, which refers to the bank's location. The Bank of England is located in the middle of the city of London on Threadneedle Street. Explaining 'Old Lady' James Gillray first used the...
Oil Stabilization Fund (Iran)
What is 'Oil Stabilization Fund (Iran)' A government-controlled sovereign wealth fund managed for the government of Iran. The funds deposited with the Oil Stabilization Fund are primarily the surplus revenues from the development of Iran's oil reserves. Explaining 'Oil Stabilization Fund (Iran)' The fund was established in 1999 as a way to make strategic...
Old-Age And Survivors Insurance Trust Fund
What is 'Old-Age and Survivors Insurance (OASI) Trust Fund' One of the two trust funds managed by the Social Security Administration, the Old-Age and Survivors Insurance (OASI) Trust Fund is used to pay retirement and survivor's benefits to workers and dependents. OASI receives deposits from FICA considered to be over and above the amount needed for day-to-day...
Office Of Thrift Supervision (OTS)
What is the Office of Thrift Supervision (OTS)? The Office of Thrift Supervision (OTS) is a federal regulator of savings and loan associations, savings banks, and credit unions. The agency was established in 1989 as part of the Federal Home Loan Bank System modernization act. Its primary mission is to promote safety and soundness in the thrift industry by examining...
One-Cancel-All Order (OCA)
What is 'One-Cancel-All Order (OCA)' A One-Cancel-All (OCA) order is a type of options order that gives the trader the ability to place multiple options contracts on the same underlying security, with the stipulation that if one of the contracts is executed, the rest of the orders will be canceled. This type of order can be used when a trader...
Odd-Days Interest
What is 'Odd-Days Interest' Interest that is earned from a mortgage or other loan with closed-end installments that contain a nonstandard payment period. In most cases, the additional interest is added on to the first payment. All remaining payment periods are uniform, assuming the loan has fixed payments and amortizes fully. Also referred to as...
Office Audit
What is 'Office Audit' An examination of a taxpayer's records by the Internal Revenue Service to ensure the taxpayer's compliance with tax laws. In an office audit, the IRS interviews the taxpayer and inspects the taxpayer's records at an IRS office. The purpose of an office audit is to make sure the taxpayer is accurately reporting income...