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Transaction Cost Analysis
Transaction cost analysis (TCA), as used by institutional investors, is defined by the ''Financial Times'' as "the study of trade prices to determine whether the trades were arranged at favourable prices – low prices for purchases and high prices for sales". It is often split into two parts – pre-trade and post-trade. Recent regulations, such as the European Markets in Financial Instruments Directive, have required institutions to achieve best execution. Pre-trade Pre-trade analysis is the process of taking known parameters of a planned trade and determining an execution strategy that will minimize the cost of transacting for a given level of acceptable risk. It is not possible to reduce both projected risk and cost past a certain efficient frontier, since reducing risk tolerance requires limiting market exposure and thus trading faster. In this situation, market impact cost is much greater than for trades that accept greater risk and are executed more slowly. Effect on Finan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Times
The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and also published digitally that focuses on business and economic Current affairs (news format), current affairs. Based in London, the paper is owned by a Japanese holding company, Nikkei, Inc., Nikkei, with core editorial offices across Britain, the United States and continental Europe. In July 2015, Pearson plc, Pearson sold the publication to Nikkei for Pound sterling, £844 million (US$1.32 billion) after owning it since 1957. In 2019, it reported one million paying subscriptions, three-quarters of which were digital subscriptions. In 2023, it was reported to have 1.3 million subscribers of which 1.2 million were digital. The newspaper has a prominent focus on Business journalism, financial journalism and economic analysis rather than News media, generalist reporting, drawing both criticism and acclaim. It sponsors an Financial Times and McKinsey Business Book of the Year Award, annual book ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Order Management System
An order management system, or OMS, is a computer software system used in a number of industries for order entry and processing. Electronic commerce and catalogers Orders can be received from businesses, consumers, or a mix of both, depending on the products. Offers and pricing may be done via catalogs, websites, or [broadcast network] advertisements. An integrated order management system may encompass these modules: * Product information (descriptions, attributes, locations, quantities) * Inventory available to promise (ATP) and sourcing * Vendors, purchasing, and receiving * Marketing (catalogs, promotions, pricing) * Customers and prospects * Order entry and customer service (including returns and refunds) * Financial processing (credit cards, billing, payment on account) * Order processing (selection, printing, picking, packing, shipping) There are several business domains which use OMS for different purposes but the core reasons remain the same: # Telecom – To keep track of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Capitalization
Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by the number of common shares outstanding. Description Market capitalization is sometimes used to rank the size of companies. It measures only the equity component of a company's capital structure, and does not reflect management's decision as to how much debt (or leverage) is used to finance the firm. A more comprehensive measure of a firm's size is enterprise value (EV), which gives effect to outstanding debt, preferred stock, and other factors. For insurance firms, a value called the embedded value (EV) has been used. It is also used in ranking the relative size of stock exchanges, being a measure of the sum of the market capitalizations of all companies listed on each stock exchange. The total capitalization of stock markets or eco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Region
In geography, regions, otherwise referred to as areas, zones, lands or territories, are portions of the Earth's surface that are broadly divided by physical characteristics (physical geography), human impact characteristics (human geography), and the interaction of humanity and the environment (environmental geography). Geographic regions and sub-regions are mostly described by their imprecisely defined, and sometimes transitory boundaries, except in human geography, where Jurisdiction (area), jurisdiction areas such as national borders are defined in law. More confined or well bounded portions are called ''locations'' or ''places''. Apart from the Earth, global continental regions, there are also hydrosphere, hydrospheric and atmosphere, atmospheric regions that cover the oceans, and discrete climates above the land mass, land and water mass, water masses of the planet. The land and water global regions are divided into subregions geographically bounded by large geological feature ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sector (economy)
One classical breakdown of economic activity distinguishes three sectors: * Primary: involves the retrieval and production of raw materials, such as corn, coal, wood or iron. Miners, farmers and fishermen are all workers in the primary sector. * Secondary: involves the transformation of raw materials or intermediate goods into goods, as in steel into cars, or textiles into clothing. Builders and dressmakers work in the secondary sector. * Tertiary: involves the supplying of services to consumers and businesses, such as babysitting, cinemas or banking. Shopkeepers and accountants work in the tertiary sector. In the 20th century, economists began to suggest that traditional tertiary services could be further distinguished from "quaternary" and quinary service sectors. Economic activity in the hypothetical quaternary sector comprises information- and knowledge-based services, while quinary services include industries related to human services and hospitality. Economic theori ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Volatility (finance)
In finance, volatility (usually denoted by "sigma, σ") is the Variability (statistics), degree of variation of a trading price series over time, usually measured by the standard deviation of logarithmic returns. Historic volatility measures a time series of past market prices. Implied volatility looks forward in time, being derived from the market price of a market-traded derivative (in particular, an option). Volatility terminology Volatility as described here refers to the actual volatility, more specifically: * actual current volatility of a financial instrument for a specified period (for example 30 days or 90 days), based on historical prices over the specified period with the last observation the most recent price. * actual historical volatility which refers to the volatility of a financial instrument over a specified period but with the last observation on a date in the past **near synonymous is realized volatility, the square root of the realized variance, in turn c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transaction Cost
In economics, a transaction cost is a cost incurred when making an economic trade when participating in a market. The idea that transactions form the basis of economic thinking was introduced by the institutional economist John R. Commons in 1931. Oliver E. Williamson's ''Transaction Cost Economics'' article, published in 2008, popularized the concept of transaction costs. Douglass C. North argues that institutions, understood as the set of rules in a society, are key in the determination of transaction costs. In this sense, institutions that facilitate low transaction costs can boost economic growth.North, Douglass C. 1992. "Transaction costs, institutions, and economic performance", San Francisco, CA: ICS Press. Alongside production costs, transaction costs are one of the most significant factors in business operation and management. Definition Williamson defines transaction costs as a cost innate in running an economic system of companies, comprising the total costs of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Delay Cost
Delay or DeLay may refer to: People * B. H. DeLay (1891–1923), American aviator and movie stunt pilot * Dorothy DeLay (1917–2002), American violin instructor * Florence Delay (born 1941), French academician and actor * Jan Delay, stage name of German musician Jan Phillip Eißfeldt (born 1976) * Jason Delay (born 1995), American baseball player * Jean Delay (1907–1987), French psychiatrist, neurologist, and writer * Paul deLay (1952–2007), American blues musician * Tom DeLay (born 1947), American politician * Tom Delay (businessman) (born 1959), British businessman * Vladislav Delay (born 1976), Finnish musician Other uses * Delay (audio effect), a technology for producing delayed playback of an audio signal * Delay (programming), a programming language construct for delaying evaluation of an expression * ''Delay 1968 ''Delay 1968'' is a compilation album by the German experimental rock band Can released in 1981. It comprises previously unreleased work recorded for Ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Implicit Cost
In 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 production for which it already owns and thus does not pay rent. It is the opposite of an explicit cost, which is borne directly. In other words, an implicit cost is any cost that results from using an asset instead of renting it out, selling it, or using it differently. The term also applies to foregone income from choosing not to work. Implicit costs also represent the divergence between economic profit (total revenues minus total costs, where total costs are the sum of implicit and explicit costs) and accounting profit (total revenues minus only explicit costs). Since economic profit includes these extra opportunity costs, it will always be less than or equal to accounting profit. Lipsey (1975) uses the example of a firm sitting on an expensive plot worth $10,000 a month in rent which it bought for a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Explicit Cost
An explicit cost is a direct payment made to others in the course of running a business, such as wage, rent and materials, as opposed to ''implicit costs'', where no actual payment is made. It is possible still to underestimate these costs, however: for example, pension contributions and other "perks" must be taken into account when considering the cost of labour. Explicit costs are taken into account along with implicit ones when considering economic profit In economics, profit is the difference between revenue that an economic entity has received from its outputs and total costs of its inputs, also known as surplus value. It is equal to total revenue minus total cost, including both explicit an .... Accounting profit only takes explicit costs into account. References {{DEFAULTSORT:Explicit Cost Costs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
