Guaranteed Personal Loan
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Free reserves 
 
Excess reserves minus member bank borrowings at the Fed. 
 
Free rider 
 
A follower who avoids the cost and expense of finding the best course of action and by simply mimicking the
behavior of a leader who made these investments. 
 
Free to trade 
 
Used in the context of general equities. Removed from any internal (restricted list) or external restrictions on
trading, and hence the trader is free to solicit interest as well. 
 
Frequency distribution 
 
The organization of data to show how often certain values or ranges of values occur. 
 
Fresh picture 
 
Used for listed equity securities. Updated picture of a stock or market, usually following recent trading
activity or news which has changed the previous look. 
 
Fresh signal 
 
Used in the context of general equities. Piece of information (fundamental or technical) leading one to
believe a stock will move in a certain manner. 
 
Friction costs 
 
Costs, both implied and direct, associated with a transaction. Such costs include time, effort, money, and
associated tax effects of gathering information and making a transaction. 
 
Frictions 
 
The stickiness in making transactions; the total hassle including time, effort, money, and tax effects of
gathering information and making a transaction such as buying a stock or borrowing money. 
 
FRN 
 
See: Floating Rate Note 
 
Front ending 
 
Used in the context of general equities. Trading a partial of relatively small size in comparison to the
remainder of the total order, at times without giving the opposite side (the buyer/seller of this small partial)
adequate disclosure of the extent of the latter end of the total order, and thus disadvantaging this party when
this sizable latter end moves the stocks price against his initial buy or sell price of the smaller, front end. 
 
Front fee 
 
The fee initially paid by the buyer upon entering a split-fee option contract. 
 
Front running 
 
Used in the context of general equities. Entering into option or futures contracts with advance knowledge of
a block transaction that will influence the price of the underlying security to capitalize on the trade. This
practice is forbidden by the S.E.C. and should never be followed within any brokerage firm.