Pension

pension (/ˈpɛnʃən/, from Latin pensiō, “payment”) is a fund into which a sum of money is added during an employee’s employment years and from which payments are drawn to support the person’s retirement from work in the form of periodic payments. A pension may be a “defined benefit plan”, where a fixed sum is paid regularly to a person, or a “defined contribution plan”, under which a fixed sum is invested that then becomes available at retirement age. Continue reading “Pension”

Robo-advisor

Robo-advisors or robo-advisers are a class of financial adviser that provide financial advice or Investment management online with moderate to minimal human intervention.[1] They provide digital financial advice based on mathematical rules or algorithms. These algorithms are executed by software and thus financial advice do not require a human advisor. The software utilizes its algorithms to automatically allocate, manage and optimize clients’ assets. Continue reading “Robo-advisor”

Proof of funds

proof of funds (POF) is a document or bank statement proving that a person has the financial ability to perform a transaction.[1] For instance, a POF is generally obligatory for people seeking mortgages as bankers are often more willing to issue them to those who have the sufficient funds to pay their mortgages off as opposed to those who cannot do so. Thus, a POF letter provides the selling or lending party with confidence that the funds are obtainable and legitimate.[2] Continue reading “Proof of funds”

Retail foreign exchange trading

Retail foreign exchange trading is a small segment of the larger foreign exchange market where individuals speculate on the exchange rate between different currencies. This segment has developed with the advent of dedicated electronic trading platforms and the internet, which allows individuals to access the global currency markets. In 2016, it was reported that retail foreign exchange trading represented 5.5% of the whole foreign exchange market ($282 billion in daily trading turnover).[1] Continue reading “Retail foreign exchange trading”

Quote stuffing

In finance, quote stuffing refers to a form of market manipulation[1] employed by high-frequency traders (HFT) that involves quickly entering and withdrawing a large number of orders in an attempt to flood the market.[2] This can create confusion in the market and trading opportunities for high-speed algorithmic traders.[3] The term is relatively new to the financial market lexicon and was coined by Nanex in studies on HFT behavior during the 2010 Flash Crash.[4] Continue reading “Quote stuffing”

Payment recovery

Payment recovery firms specialize in getting vendors to return money inadvertently paid to them. In corporate America, this frequently occurs when accounts payable staff accidentally pay a duplicate invoice. Another situation in which this might occur is when, for instance, a company places a deposit on a corporate cell phone account in order to prevent service interruption in the event of a late payment. Continue reading “Payment recovery”

Payment service provider

payment service provider (PSP) offers shops online services for accepting electronic payments by a variety of payment methods including credit card, bank-based payments such as direct debit, bank transfer, and real-time bank transfer based on online banking. Typically, they use a software as a service model and form a single payment gateway for their clients (merchants) to multiple payment methods. Continue reading “Payment service provider”

Nominated adviser

nominated adviser (NOMAD) is a firm or company which has been approved by the London Stock Exchange (LSE) as a nominated adviser for the Alternative Investment Market (AIM) and whose name has been placed on the register of nominated advisers published by the London Stock Exchange. Continue reading “Nominated adviser”