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Window contract
A guaranteed investment contract purchased with deposits over some future designated time period (the
window), usually between 3 and 12 months. All deposits made are guaranteed the same credit rating.
Related: bullet contract.
Window dressing
Used in the context of general equities. Trading activity near the end of a quarter or fiscal year that is
designed to dress up a portfolio to be presented to clients or shareholders. For example, a portfolio manager
may sell losing positions in his portfolio so he can display only positions that have gained in value.
Winnerss curse
Problem faced by uninformed bidders. For example, in an initial public offering uninformed participants are
likely to receive larger allotments of issues that informed participants know are overpriced.
Wire house
A firm operating a private wire to its own branch offices or to other firms, commission houses or brokerage
houses.
With dividend
Purchase of shares in which the buyer is entitled to the forthcoming dividend. Related: ex-dividend.
Withdrawal plan
The ability to establish automatic periodic mutual fund redemptions and have proceeds mailed directly to the
investor.
Withholding tax
A tax levied by a country of source on income paid, usually on dividends remitted to the home country of the
firm operating in a foreign country. Tax levied on dividends paid abroad.
With ice
Used in the context of general equities. When issued.
Without
If 70 were bid in the market and there was no offer, the quote would be 70 bid without. The expression
without indicates a one-way market.
Without recourse
Without the lender having any right to seek payment or seize assets in the event of nonpayment from
anyone other than the party (such as a special-purpose entity) specified in the debt contract.
With rights
Purchase of shares in which the buyer is entitled to the right to buy shares in the company's rights issue.
Wi wi
Treasury bills trade on a W.I. basis between the day they are auctioned and the day settlement is made.
Bills traded before they are auctioned are said to be traded Wi wi.
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