Super Finance Glossary


Over 10,000 financial glossary terms...

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Browsing by the letter "L"

Displaying next 40 results of 371
Last Notice Day
Definition: The final day on which notices of intent to deliver on futures contracts may be issued.
Last Sale
Definition: The most recent trade performed in a security.
Last Split
Definition: After a stock split, the number of shares distributed for each share held and the date of the distribution.
Last Trading Day
Definition: The final day under an exchange's rules during which trading may take place in a particular futures or options contract. Contracts outstanding at the end of the last trading day must be settled by delivery ofunderlying physical commodities or financial instruments, or by agreement for monetary settlement, depending futures contract specifications.
Late Charge
Definition: A fee a credit grantor charges a borrower for a late payment.
Late Tape
Definition: A delay in the display of price changes on the tape of an exchange because of heavy trading. In severe instances the first digit of each price is intentionally deleted.
Late Trading
Definition: Late trading of mutual fund shares occurs when investors placing trades after 4 PM receive the 4 PM price. These late traders can use the information revealed after 4 PM to guide their trades: buying funds when their current value is greater than their 4 PM value and selling the funds when the reverse is true. Doing so allows them to earn expected abnormal returns at the expense of the fund's long-term shareholders.
Latent Default
Definition: A potential default that may have always been present but unidentified.
Definition: To move illegally acquired cash through financial systems so that it appears to be legally acquired.
Law Of Large Numbers
Definition: The mean of a random sample approaches the mean (expected value) of the population as sample size increases.
Law Of One Price
Definition: An economic rule stating that a given security must have the same price no matter how the security is created. If the payoff of a security can be synthetically created by a package of other securities, the implication is that the price of the package and the price of the security whose payoff it replicates must be equal. If it is unequal, an arbitrage opportunity would present itself.
Lay Off
Definition: In the context of general equities, this eliminates all or part of a position by finding customers or other dealers to take the position.
Definition: Used in the context of general equities. Easily executed trade or order. See: Lead pipe.
Definition: The two-character ISO 3166 country code for LEBANON.
Definition: See: Leveraged buyout
Definition: The ISO 4217 currency code for Lebanese Pound.
Definition: The two-character ISO 3166 country code for SAINT LUCIA.
Definition: See: Liquidated damages