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DA
1: Deposit
Account
2: Documents against Acceptance
Daily
Bond Buyer
A daily municipal industry newspaper that contains news and announcements.
The paper basically concentrates on new issues and publishes a variety
of municipal industry statistics. These statistics include: Eleven Bond
Index, Revenue Bond Index, Twenty Bond Index and Visible Supply.
See: Eleven
Bond Index; Visible
Supply
Daily
Trading Limit
The daily maximum amount that many options and commodities markets are
allowed to rise or fall. When a market reaches the upper limit and remains
there all day, it is said to be having an up-limit day. Conversely, when
a market reaches the lower limit and remains there all day, it is said
to be having a down-limit day.
Daisy
Chain
Brokerage lingo used to describe a pattern of fictitious trading by a
group of persons buying and selling to create the appearance of active
volume to entice legitimate investors. The unsuspicious investor drawn
into the daisy chain bails out the market manipulators--that is, when
these traders drive the price up, they sell their holdings and leave innocent
investors without buyers.
Dated
Date
The date from which interest begins accruing on new municipal bonds and
other debt instruments. The buyer makes a payment to the issuer for the
interest accrued from the dated date to the issue's settlement date. On
the bond's first interest payment the buyer is reimbursed.
Day
Loan
A loan--also known as a "morning loan"--that a bank makes to
a broker to purchase securities while it awaits afternoon delivery of
the securities. After the securities are delivered and pledged as collateral,
the loan becomes a regular broker's call loan.
See: Call
Loan; Call
Loan Rate
Day
Order
Security buy or sell orders that expire at the end of the trading day
on which they were entered unless already executed or canceled during
the day.
See: Execution;
Orders
Day
Trade
The purchase and sale of a position in an account during the same trading
day. A day trade may also be a short sale followed by a short cover (buy).
See: Selling
Short; Short
Covering
D
& B (Dun and Bradstreet)
Company that provides subscribers with a ratings directory and credit
reports of corporations. It also publishes financial composite ratios
and offers an accounts receivable collection service. Moody's Investors
Service, which rates bonds and commercial paper, is a subsidiary of D
& B.
See: Moody's
Investors Service; Rating
DBCC
(District Business Conduct Committee)
National Association of Securities Dealers (NASD) committee that has jurisdiction
in handling complaints against, or violations by NASD members within its
district.
See: National
Association of Securities Dealers
DC
A bond that is a "deep discount issue." The abbreviation "DC"
is used in bond listings of newspapers.
See: Deep
Discount Bond
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