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Woody
Sexual slang for a market moving strongly upward, as in, This market has a woody.
Working
Used in the context of general equities. Attempting to complete the remaining part of a trade, by finding
either buyers or sellers for the rest.
Working away
Used in the context of general equities. Transacting an order with another broker/dealer.
Working capital
Defined as the difference between current assets and current liabilities (excluding short-term debt). Current
assets may or may not include cash and cash equivalents, depending on the company.
Working capital management
The management of current assets and current liabilities to maximize short-term liquidity.
Working capital ratio
Working capital expressed as a percentage of sales.
Working order
Used in the context of general equities. Order that exists in the marketplace, whereby a broker is bidding or
offering to fill the order in a series of lots at opportune times in hope of obtaining the best price.
Workout
Informal arrangement between a borrower and creditors.
Workout market
Used in the context of general equities. Market which represents an indication of prices at which it is
believed a security can be bought or sold within a reasonable length of time.
Workout period
Realignment period of a temporarily misaligned yield relationship that sometimes occurs in fixed income
markets.
World Bank
A multilateral development finance agency created by the 1944 Bretton Woods, New Hampshire
negotiations. It makes loans to developing countries for social overhead capital projects, which are
guaranteed by the recipient country. See: International Bank for Reconstruction and Development.
World Equity Benchmark Series (WEBS)
The World Equity Benchmark Series are similar to SPDRs. W.E.B.S. trade on the AMEX, and track the
Morgan Stanley Capital International (MSCI) country glossaryes. W.E.B.S. are available for these countries:
Australia, Austria, Belgium, Canada, France, Germany, Hong Kong, Italy, Japan, Malaysia Free, Mexico,
Netherlands, Singapore, Spain, Sweden, Switzerland, and United Kingdom.
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