Super Finance Glossary
Over 10,000 financial glossary terms...
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Browsing by the letter "N"
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Nominee
Definition: A person or firm to whom securities or other properties are transferred to facilitate transactions, while leaving the customer as the actual owner.
Definition: A person or firm to whom securities or other properties are transferred to facilitate transactions, while leaving the customer as the actual owner.
Nominee Director
Definition: Every IBC must have a Board of Directors. The Board may consist of one person or many people. For instance, the beneficial owner of the IBC may appoint himself/herself as the director and sole officer of the corporation. However, most IBCs are formed with a nominee director. The nominee may be, but does not have to be, an individual who works and/or resides in the country where the IBC was formed. The nominee may be used to sign (contracts, loans, etc.) for the IBC should the beneficial owner not want his/her signature to be connected with the corporation. Typically, the nominee director will have no knowledge of the IBC's affairs or accounts, cannot control or influence the IBC, and will not act unless instructed to by the beneficial owner.
Definition: Every IBC must have a Board of Directors. The Board may consist of one person or many people. For instance, the beneficial owner of the IBC may appoint himself/herself as the director and sole officer of the corporation. However, most IBCs are formed with a nominee director. The nominee may be, but does not have to be, an individual who works and/or resides in the country where the IBC was formed. The nominee may be used to sign (contracts, loans, etc.) for the IBC should the beneficial owner not want his/her signature to be connected with the corporation. Typically, the nominee director will have no knowledge of the IBC's affairs or accounts, cannot control or influence the IBC, and will not act unless instructed to by the beneficial owner.
Nominee Name
Definition: A name that is used by the corporation as a generic registered owner on a stock or bond certificate. The use of nominee names makes the processing of security transfers easier.
Definition: A name that is used by the corporation as a generic registered owner on a stock or bond certificate. The use of nominee names makes the processing of security transfers easier.
Non Vessel Operating Common Carriers (NVOCC)
Definition: An ocean carrier that does not own or operate their own vessels. They use less than full containerloads which they ship on actual ship lines. They issue their own bills of lading which are backed up by actual on board ocean bills of lading issued to them by the other carrier.
Definition: An ocean carrier that does not own or operate their own vessels. They use less than full containerloads which they ship on actual ship lines. They issue their own bills of lading which are backed up by actual on board ocean bills of lading issued to them by the other carrier.
Non-Discretionary Proposal
Definition: A proposition on a proxy card requiring a response from the beneficial owner which does not fall under the Ten Day Rule. Therefore, the broker cannot vote on behalf of the beneficial owner, it can only vote after specific instructions have been received from the beneficial owner.
Definition: A proposition on a proxy card requiring a response from the beneficial owner which does not fall under the Ten Day Rule. Therefore, the broker cannot vote on behalf of the beneficial owner, it can only vote after specific instructions have been received from the beneficial owner.
Non-Equity Option
Definition: An option whose underlying entity is not common stock; typically refers to options on physical commodities and index options.
Definition: An option whose underlying entity is not common stock; typically refers to options on physical commodities and index options.
Non-Member Traders
Definition: Speculators and hedgers who trade on the exchange through a member or a person with trading privileges but who do not hold exchange memberships or trading privileges.
Definition: Speculators and hedgers who trade on the exchange through a member or a person with trading privileges but who do not hold exchange memberships or trading privileges.
Nonaccredited Investor
Definition: Wealthy, sophisticated investors who do not meet SEC net worth requirements. These investors require less protection because of large financial resources, but only 35 nonaccredited investor can be included per investment.
Definition: Wealthy, sophisticated investors who do not meet SEC net worth requirements. These investors require less protection because of large financial resources, but only 35 nonaccredited investor can be included per investment.
Nonadverse Party
Definition: Any person who is not an adverse party. Irc § 672(b). A person who is nonadverse and who has a certain relation to the grantor is termed a "related or subordinate party." such party is considered to be subservient to the grantor in most instances with regard to the exercise of power, unless a preponderance of the evidence indicates otherwise. Irc § 672(c).
Definition: Any person who is not an adverse party. Irc § 672(b). A person who is nonadverse and who has a certain relation to the grantor is termed a "related or subordinate party." such party is considered to be subservient to the grantor in most instances with regard to the exercise of power, unless a preponderance of the evidence indicates otherwise. Irc § 672(c).
Noncallable
Definition: A preferred stock or bond that cannot be redeemed whenever desired by the issuer.
Definition: A preferred stock or bond that cannot be redeemed whenever desired by the issuer.
Noncash Charge
Definition: A cost, such as depreciation, depletion, and amortization, that does not involve any cash outflow. That is, this is treated as an accounting expense -- not a real expense that demands cash.
Definition: A cost, such as depreciation, depletion, and amortization, that does not involve any cash outflow. That is, this is treated as an accounting expense -- not a real expense that demands cash.
Nonclearing Member
Definition: An exchange member firm that is not able to clear transactions, and must pay another member firm to carry out its clearing operations.
Definition: An exchange member firm that is not able to clear transactions, and must pay another member firm to carry out its clearing operations.
Noncompete
Definition: A provision in a number of employment contracts that prohibits an employee from working for a competing firm for a specified number of years after the employee leaves the firm.
Definition: A provision in a number of employment contracts that prohibits an employee from working for a competing firm for a specified number of years after the employee leaves the firm.
Noncompetitive Bid
Definition: In a Treasury auction, bidding for a specific amount of securities at the price, whatever it may turn out to be, equal to the average price of the accepted competitive bids.
Definition: In a Treasury auction, bidding for a specific amount of securities at the price, whatever it may turn out to be, equal to the average price of the accepted competitive bids.
Noncompetitive Tender
Definition: Offer by an investor to purchase Treasury securities at a price equivalent to the weighted average discount rate or yield of accepted competitive bids in a Treasury auction. Noncompetitive tenders are always accepted in full.
Definition: Offer by an investor to purchase Treasury securities at a price equivalent to the weighted average discount rate or yield of accepted competitive bids in a Treasury auction. Noncompetitive tenders are always accepted in full.
Noncontributory Pension Plan
Definition: A pension plan that is fully paid for by the employer, requiring no employee contributions.
Definition: A pension plan that is fully paid for by the employer, requiring no employee contributions.
Noncumulative
Definition: Applies mainly to convertible securities. Type of preferred stock on which unpaid or Omitted dividends do not accrue. Omitted dividends are, as a rule, gone forever.
Definition: Applies mainly to convertible securities. Type of preferred stock on which unpaid or Omitted dividends do not accrue. Omitted dividends are, as a rule, gone forever.
Noncumulative Preferred Stock
Definition: Preferred stock whose holders must forgo dividend payments when the company misses a dividend payment. Related: Cumulative preferred stock.
Definition: Preferred stock whose holders must forgo dividend payments when the company misses a dividend payment. Related: Cumulative preferred stock.
Noncurrent Asset
Definition: Any asset that is expected to be held for the whole year, not sold or exchanged, such as real estate, machinery, or a patent.
Definition: Any asset that is expected to be held for the whole year, not sold or exchanged, such as real estate, machinery, or a patent.
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