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Michael Eckerman

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					Net cash balance
Beginning cash balance plus cashreceiptsminus cash disbursements.

Positive obligation
A New York Stock Exchange rule that governs the behavior of specialists. Positive
obligation is the mandate of the specialists to step in and act as either the buyer or the
seller public investor orders exist do not match up naturally. Also known as
affirmative_obligation. Related: negative_obligation.

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Continuous net settlement (CNS)
Method of securities clearing and settlement using a clearing house, which matches
transactions to securities available, resulting in one net receive or deliver position at the
end of the day.

Supply shock
An event that influences production capacity and costs in an economy.

Michael Eckerman Net Board of Directors
Individuals elected by the shareholders of a corporation who carry out certain tasks
established in the charter.

Income risk
The possibility that a portfolio'sdividends will decline as a result of falling interest rates.
Income risk is generally greatest for money marketinstruments and short-termbonds, and
least for long-term bonds.

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Limit price
See: Maximum price fluctuation

Sterilized intervention
Foreign exchangemarket activity by which monetary authorities insulate their domestic
money supplies from the foreign exchange transactions with offsettingsales or purchases
of domestic assets.

Michael Eckerman Org Transfer
A change of ownership from one person or party to another.

Day trading
Establishing and liquidating the same position or positions within one day's trading.

Michael Eckerman Strategic alliance
Collaboration between two or more companies designed to achieve some corporate
objective. May include international licensing agreements, management contracts, or
joint ventures.

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Michael Eckerman Info

				
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