List of Glossary Terms
The PDSnet Glossary of Terms contains definitions and explanations for over 2600 financial market terms. These definitions are constantly kept up-to-date with current topical examples from the markets. They are also updated for changes in legislation and current events like COVID19 and the July 2021 civil unrest.
The terms in the Glossary are directly linked to all PDSnet articles, confidential reports, lecture modules and other material. This means that a client reading one of our publications can immediately see which terms are defined in the Glossary and click through to read the definition. Terms within the definitions in the glossary are similarly linked, which gives the Glossary an enormous educational depth share market investors.
| STALE BULL |
This is someone who remains bullish when the preponderance of investors have turned bearish. After a long upward trend, some investors... read more |
| STANDARD & POORS |
A ratings agency which, together with Fitch and Moodys, rates the bonds and other debt instruments of governments, parastatals... read more |
| STAIR-STEPPING |
Market activity characterised by a trend, then sideways movements, followed by another trend and further sideways movement. |
| STAINLESS STEEL |
An alloy of iron with about 11% chrome to prevent oxidisation (rusting). There are various types of stainless steel designed to meet specific requirements.... read more |
| STAGGING PROFIT |
The profit made by an investor who buys a share before a listing, usually as part of a private placing, and then sells it immediately... read more |
| STAGGING |
The practice of buying shares in a new listing before it comes to the market with the objective of making a profit when trading begins. |
| STAGFLATION |
An economics term which refers to an economy that has limited or no growth, but simultaneously suffers from high inflation. Stagflation... read more |
| STAG |
An investor who buys shares prior to a listing with the intention of selling them and making a profit as soon as the listing takes place. |
| SPRING |
A two-day pattern where the market declines below a support point on the first day and moves up strongly the next day into the congestion area. |
| SPREAD ROLLS |
Using a spread order to bridge the closing of one position and the establishment of a new one. |
| SPREAD |
The percentage of a listed company's shares that must be held by members of the public. Section 4.28 (e) of the JSE's listing requirements... read more |
| SPOT PRICE |
In futures markets, this term usually refers to a cash market price for a physical commodity that is available for immediate delivery.... read more |
| SPOT MONTH |
In trading, the current contract month. Also known as the "front month". |
| SPOT MARKET |
A spot market is a market where transactions are made for immediate delivery - like the share market. If shares are bought they must be delivered... read more |
| SPONSORING BROKER |
This is a stockbroking firm registered with the Johannesburg Securities Exchange (JSE) who is appointed by a company that is wanting to list... read more |
| SPLIT FILL |
An order consisting of more than one lot, where contracts are filled at different prices. An order to sell 2 December Canadian Dollar contracts at .6200... read more |
| SPINNING TOP |
A candlestick formation which consists of a small real body and long upper and lower shadows which represent a wide range of trading... read more |
| SPIKE |
A sharp rise or fall in price in a single day or two; may be as great as 15-30%, indicating the time for an immediate sale or perhaps a purchase. |
| SPECULATOR |
A person who buys shares with the sole objective of making a quick capital gain. Usually, speculators concentrate on high-risk penny stocks... read more |
| SPECULATIVE DIVIDEND FUTURE |
This is a futures contract which is sold together with an equity future and fixes the value of the dividend accruing to that share.... read more |
| SOVEREIGN DEBT |
A government's debt, mostly in the form of long-term government bonds. The interest cost of this debt obviously reduces the proportion of... read more |
| SPECTRUM |
The frequency decomposition of time series data. This is used to detect periodic fluctuations or cycles in historical price data. |
| SPECIALIST |
A trader on the market floor of the New York Stock Exchange assigned to fill bids/orders in a specific stock out of their own account... read more |
| SPECIAL SHAREHOLDERS MEETING |
A meeting of the shareholders of a company which is outside the normal annual general meetings (AGM) and which is convened for some specific purpose,... read more |
| SPECIAL RESOLUTION |
A special resolution can only be passed with the approval of at least 65% of the voting shares of the company depending on the stipulations of the... read more |
| SPECIAL PURPOSE ACQUISITION COMPANY |
A listed JSE company that comes to the JSE with just cash and management with the direct intention of making acquisitions within... read more |
| SPECIAL OFFSET |
When a long position and a short position are specially matched and offset according to specific instructions from a customer, rather... read more |
| SPECIAL ECONOMIC ZONES |
Special Economic Zones (SEZ) grew out of the Industrial Development Zones (IDZ) which... read more |
| SPECIAL DRAWING RIGHTS |
These are additional foreign exchange assets in a country's reserves as a result of its membership of the International Monetary Fund (IMF). They... read more |
| SPECIAL DIVIDEND |
When a company has surplus cash it can sometimes pay a special dividend over and above its normal interim and final dividends. Companies accused... read more |