DefinitionHawala or hewala, also known as hundi or—in Somali, xawala or xawilaad—is a popular and informal value transfer system based not on the movement of cash, or on telegraph or com

Hard Dollars What is 'Hard Dollars' Cash fees or payments made by an investor or customer to a brokerage firm in return for their services. Hard dollars differ from soft dollar payments be

Yield Variance What is 'Yield Variance' Yield variance is the difference between actual output and standard output of a production or manufacturing process, based on standard inputs of mat

Yield To Maturity (YTM) What is 'Yield To Maturity (YTM)' Yield to maturity (YTM) is the total return anticipated on a bond if the bond is held until the end of its lifetime. Yield to matu

Intrinsic Value In the market of finance, the term intrinsic value can have two distinct meanings: Intrinsic value, is the difference between the strike price of the option and the underlyi

DefinitionImplied Authority of Contract is a legal term. In contract law, it is the implied ability of an individual to make a legally binding contract on behalf of an organization, by way o

DefinitionIn economics, an implicit cost, also called an imputed cost, implied cost, or notional cost, is the opportunity cost equal to what a firm must give up in order to use a factor of p

DefinitionImplied Repo Rate is the rate of return of borrowing money to buy an asset in the spot market and delivering it in the futures market where the notional is used to repay the loan.

Offshore Portfolio Investment Strategy (OPIS) What is 'Offshore Portfolio Investment Strategy - OPIS' A tax shelter product designed to create large, seemingly real losses to be used for t

DefinitionIn finance, an abnormal return is the difference between the actual return of a security and the expected return. Abnormal returns are sometimes triggered by "events." Events can i