3317 Notes 20160303.xlsx - Markets Derivative Markets...

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Markets Stock Markets Derivative Markets Common Stock Options markets Preferred Stock Futures markets Warrants ADRs Derivative Contracts GDRs Forwards Receipts Swaps Certificates Closed-end Funds Exchange-traded Funds (ETFs) Exchange-traded Notes (ETNs) REITs
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Ways to classify markets and securities Spot vs Forwards Underlying vs Derivative Single securities vs Funds Securities vs Contracts Public vs Private
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What is stock? Receipt for ownership of a corporation shares of stock Owners get voting rights and dividends Owners get a claim on leftover cash flows and assets lowest seniority Shareholders are last in line to get paid Shares can be negotiable traded on market Generally stock has no maturity
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What is a derivative? A contract that involves the exchange of some other security at some point in time If this contract is standardized and traded in a market then it is a derivative security
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What is a fund? A security that represents stock in a holding company.
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