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Daily Official List
A daily publication of the London Stock Exchange which lists the trading prices of securities traded in the main market
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Debenture
Commonly used to describe a bond against which assets have been charged as security. Legally, it is any acknowledgement in writing of any debt due by a company.
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Debt instrument
A paper or electronic obligation that enables the issuing party to raise funds by promising to repay a lender in accordance with terms of a contract. Types of debt instruments include notes, bonds, certificates, mortgages, leases or other agreements between a lender and a borrower.
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Debt Management Office
Department of the Treasury responsible for new issues of gilts.
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Delta
The ratio comparing the change in the price of the underlying asset to the corresponding change in the price of a derivative. Sometimes referred to as the "hedge ratio".
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Dematerialised
Shares which are electronically recorded in a central computer system and for which no certificates exist. Transfer is by book entry transfer.
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Department of Trade & Industry (DTI)
Government department responsible for some commercial matters including monopolies and prosecution of insider dealing. Also issues some guidelines on the use of derivatives.
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Deutsche Aktienindex (DAX)
The leading German stockmarket index.
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Dirty
A price which includes accrued interest.
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Discount
The difference between a bond’s redemption value and its price, where the latter is lower. Also a deduction from the bill of exchange when it is purchased before maturity date. The party that purchases (discounts) the bill pays less than its face value and therefore makes a profit when it matures.
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Discretionary Account
An account that allows a broker to buy and sell securities without the client's consent. The client must sign a discretionary disclosure with the broker as documentation of the clients consent.
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Diversification
An investment strategy used in portfolio management. It is the process of reducing stock specific risk by spreading investments across a range of markets and assets classes.
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Dividend
Distribution of profits made by a company to its shareholders if it chooses to do so.
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Dividend Yield
The dividend per share expressed as a percentage of the share price.
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Dow Jones Industrial Average (DJIA)
A principle share index in the USA. Dow Jones compiles daily indices of the share prices quoted on NYSE.