GLOSSAIRE DE LA FINANCE






Nous vous proposons ci-après un glossaire de la finance rédigé par nos soins.
Il vous suffit de cliquer sur un terme pour accéder à sa définition.

puce NASD

[National Association of Securities Dealers]
The national organisation of the USA securities industry.
Under USA law, as a self regulatory organisation, NASD has substantial responsibility for regulation of broker-dealers, as well as the operation of the NASDAQ markets.

puce NASDAQ 100

An index based on the Stock of the top 100 companies traded on the Nasdaq National Market.
See also Index

puce Nasdaq National Market (formerly NASDAQ NMS) (USA)

The largest and highest quality of the three markets administered by The NASDAQ Stock Market, Inc.
The other two are the Nasdaq SmallCap Market and the Nasdaq OTC Bulletin Board.
The Nasdaq National Market is the second largest stock market in the world in terms of volume of shares traded.
The Nasdaq markets use computer-based trading and trade support systems.

puce Nasdaq-Amex Market Group (USA)

In 1998, NASDAQ and the American Stock Exchange combined into the Nasdaq-Amex Market Group.

puce NAV

[Net Asset Value]
Net value of a share corresponding to the net worth of a fund divided by the number of outstanding shares.

puce Negative Cash Flows

Less money coming in than going out.

puce Net Current Assets

The cash resources a company needs to operate as a going concern on a daily basis.
Such resources may be internally generated in the form of retained profits or proceeds of sales of assets or provided externally by shareholders, trade creditors and bankers or other financial institutions.
Technically, current assets minus current liabilities.

puce Net Long Exposure

puce Net Profit

The sum of money after taxes, interest, depreciation and other expenses have been taken away from gross sales.

puce Net worth

puce Newco

A corporation that is set up for a limited period of time with the purpose of facilitating the acquisition of a company.
See also MBO/LBO.

puce No-go

Decision to stop the negociations in relation with a transaction.

puce Non-accountable Expense Allowance

See Expense Allowance.

puce Non-compete Agreement

An agreement often signed by employees and management whereby they agree not to work for competitor companies or form a new competitor company within a certain time period in a certain geographic region after termination of employment.

puce Non-disclosure Agreement

An agreement in which an employee, customer or vendor agrees not to disclose confidential information to any third party or to use it in any context other than that of company business.

puce Non-qualified Stock Options (USA)

Stock options that do not qualify for special tax treatment.
Accordingly, there are no limitations on the exercice price, person to whom granted, etc.
The option holder has no tax at the time of grant, but will have ordinary taxable income at the time of exercice equal to the difference between the exercice price on the date of option exercice and fair market value on that date.
See Incentive Stock Options or ISOs for comparison.

puce Non-solicitation Agreement

An agreement often signed by employees and management whereby they agree not to solicit other employees of the company regarding job opportunities.

puce Novation

The substitution of a new contract for an old one; or the subsitution of one party in a contract with another party.
Also, the replacement of an existing debt or obligation with a new one.

puce NPV

[Net Present Value]
Calculation based on the assumption that one CHF received in e.g. ten years' time is not worth as much as one CHF received today because the CHF received today could be invested for those ten years and so compound into a higher value.
The NPV calculation through a discount rate thus establishes the value of future earnings in today's money.
See also discounted cash flow.

puce NYSE

[New York Stock Exchange]
The NYSE, located in New York City, is the world's largest stock market.