contract is a contractual agreement between a buyer and a seller at time 0 to exchange a pre-specified asset for cash at some later date at a price set at time 0

refers to the underwriter’s risk of reselling the securities to the investing public

created to be sold in retail to the investing public.

Treasury Bills

Treasury Bills Treasury Notes Treasury Bonds

Cash flows from the sale of products, services, or assets denominated in a foreign currency are transacted in foreign exchange (FX) markets

Professional traders are similar to designated market makers on the stock exchanges in that they trade for their own account. Professional traders are also referred to as position traders, day traders, or scalpers. Position traders take a position in the futures market based on their expectations about the future direction of prices of the underlying assets.

Mortgages

banks and institutions can buy or sell short-term

The Bangko Sentral ng Pilipinas (BSP) maintains a floating exchange rate system.Exchange rates are determined on the basis of supply and demand in the foreign exchange market

March 1, 1979

private employees

4,1979

Capital or price appreciation is an increase in the market price of your stock over time brought about by an increase in its potential value and the demand to buy its shares.

Seasoned equity issues Initial public offerings (IPOs)

A long position is an order for a purchase of the futures or option contract. A short position is an order for a sale of the futures contract

are securities whose price is dependent upon or derived from one or more underlying assets.

Treasury Bonds

11 June 1978

Corporate Bond Issues

Invest EARLY – “Early bird catches the worm” Invest REGULARLY – “Consistency is the key” Invest LONG TERM – “There’s a reward in waiting” Invest using DIVERSIFICATION - "Do not put all your eggs in one basket."

origination

Private placement

is the price at which one currency (e.g., the U.S. dollar) can be exchanged for another currency (e.g., the Philippine Peso) in the foreign exchange markets. These

71.8%

like a forward contract, is an agreement between a buyer and a seller at time 0 to exchange a standardized, pre-specified asset at some later date at a price set at time 0. months

A spot contract is an agreement between a buyer and a seller at time 0, when the seller of the asset agrees to deliver it immediately and the buyer agrees to pay for that asset immediately. Thus, the unique feature of a spot market is the immediate and simultaneous exchange of cash for securities, or what is often called delivery versus payment.

The first is the price of the good or service purchased and the second is the price of the currency.

Spot or immediate transactions are normally settled within two to three business days, but currencies may be bought or sold forward for one or more months (transaction dates beyond 1 year are less common). As a country’s exchange rate increases, its exports may become more expensive and imports may be relatively cheaper. A strong currency can contribute to a current account deficit. Conversely, a weaker currency may improve the current account deficit.

Underwriting function

1752

marking to market

original maturities of 2 to 10 years

commercial mortgages (18.3%), multifamily dwelling mortgages (8.3%) and a small amount of farm mortgages (about 1.6%).h

are typically fixed income securities that represent non-amortized loans made to corporate or government borrowers to fund their long term capital needs

mutual fund companies unit investment trust funds Personal Equity and Retirement Account (PERA) variable universal life (VUL) plans

Negotiated arrangement, Competitive bid arrangement, Best-efforts arrangement

Negotiated sale

are shares of ownership in a corporation

Distribution