Exit consent

Exit consent is a formal agreement that allows a majority group of creditors holding sovereign bonds to change the non-financial terms of the bonds in a way that makes the bonds effectively worthless for the minority holdouts, motivating them to accept a restructuring offer. Thus creditors willing to restructure can outmaneuver holdouts by using the supermajority voting features of existing bonds to secure changes, which reduce their value as they are tendered in exchange for restructured debt. Continue reading “Exit consent”

Consolidated Quotation System

The Consolidated Quotation System (CQS) is the electronic service that provides quotation information for stock traded on the American Stock Exchange, New York Stock Exchange, and other regional stock exchanges in the United States and also includes issues traded by FINRA member firms in the third market. NASDAQ processes this data and provides it to its subscribers as the Composite Quotation Service. The initials CQS may be used either for the exchange system or the NASDAQ service. Continue reading “Consolidated Quotation System”

Cornmarket Group Financial Services

Cornmarket Group Financial Services Ltd is one of Ireland’s largest investment and insurance brokers.[1] It provides financial services to teachers, nurses, and other public sector employees. Formerly Woodchester Brokers, it was founded in 1972 as Savings & Investments Ltd. It was acquired by Irish Life and Permanent in 1999.[2] The head office is in Dublin.[3] Continue reading “Cornmarket Group Financial Services”

Convenience translation

convenience translation is either when an entity displays its financial statements or other financial information in a currency that is different from either its functional currency or its presentation currency simply by translating all amounts at end-of-period exchange rates. A result of making a convenience translation is that the resulting financial information does not comply with all Generally Accepted Accounting Principles. Continue reading “Convenience translation”

Convertible security

convertible security is a security that can be converted into another security. Convertible securities may be convertible bonds or preferred stocks that pay regular interest and can be converted into shares of common stock (sometimes conditioned on the stock price appreciating to a predetermined level). Other convertible securities include asset-linked bonds, asset-linked notes, and bonds with asset warrants. Although a bond with an asset warrant is a type of convertible security, regular warrants are not. A regular warrant provides an equity option, where the holder may opt to buy newly issued shares at a determined exercise price and date. Equity capital notes are similar to warrants, except that there is no exercise price. Continue reading “Convertible security”