A TECHNICAL ANALYSIS charting formation that depicts two SUPPORT LEVELS followed by a BREAKOUT. The multiple rebounds are indicative of support and possible strength on the upside. Also known as a W

An unethical (and sometimes illegal) practice where a BROKER sells commissionbased products through a client

Borrowing at multiple levels within the corporate structure, such as the holding company and a primary operating subsidiary. Double leverage is generally considered to be a more accurate reflection of a group

An illegal attempt by an INSURED to file multiple CLAIMS on a single loss event with multiple INSURERS. Double recovery violates the principle of INDEMNITY, which states that an INSURANCE contract cannot

A TECHNICAL ANALYSIS charting formation that depicts two RESISTANCE LEVELS followed by a BREAKOUT. The multiple declines suggest resistance on the upside and possible weakness on the downside. Also known as a

A right granted by investors to an issuer of BONDS that allows the issuer to double the amount of the SINKING FUND provision in order to accelerate repayment and ultimate redemption.

A BENCHMARK priceweighted index of the US stock market, comprised of 30 LARGE CAP STOCKS representing the industrial sector; the index is rebalanced periodically as industries and corporate leadership change. The DJIA,

A COMPLEX OPTION that creates a standard EUROPEAN OPTION if the price of the UNDERLYING market reference declines through a predefined BARRIER. See also BARRIER OPTION, DOWN AND OUT OPTION, KNOCKIN OPTION,

A COMPLEX OPTION that extinguishes a standard EUROPEAN OPTION if the price of the UNDERLYING market reference declines through a predefined BARRIER. If the barrier is not breached the European option remains

A second, third or fourth round of VENTURE CAPITAL financing that is done at lower valuation levels than early rounds, suggesting the company may be worth less than initially predicted.

Legal rights that allow majority shareholders of a company to force MINORITY INTERESTS to sell their shares in the event of a TAKEOVER bid; this is necessary in situations where the acquiring

A public BOND issued simultaneously in various Asian centers by a nonAsian company, denominated in a local Asian currency or US dollars. The dragon is effectively a regional form of the GLOBAL

A mechanism where the INTEREST RATE on a FLOATING RATE NOTE or BOND is fixed once rates fall below a predefined level. The drop lock allows the issuer to lock in a

A FLOATING RATE NOTE or BOND that converts into a fixed COUPON obligation when a reference INTEREST RATE is breached on the downside. See also DROP LOCK.

A clause in a REINSURANCE contract that requires the REINSURER to provide coverage to an underlying INSURED if the INSURER cannot fulfill its obligations under the policy CEDED. A dropdown is most

Cash RESERVES held on the corporate balance sheet for future investments, ACQUISITIONS, or LIQUIDITY needs.

A corporate system where two separate BOARDS OF DIRECTORS are used to monitor and guide a company. Under a typical dual structure the SUPERVISORY BOARD is responsible for strategy and oversight/supervision of

An INSURANCE mechanism that provides the INSURED with a payout only if two separate TRIGGER events occur. One trigger is often related to a traditional insurable OPERATING RISK (e.g., damage or destruction

A market that only features two buyers of goods or services, suggesting the buyers have an ability to influence the prices paid to suppliers. See also DUOPOLY, MONOPSONY, OLIGOPSONY.

The average CASH FLOWS of an INTEREST RATE sensitive ASSET or LIABILITY, takings account of YIELD, interest payments, maturity, and CALLABILITY Duration quantifies the change in the price of a security for