Financial and Investment Glossary
Financial Dictionary
Maintenance %
Specifies the minimum percentage of equity that must be maintained, pursuant to SEC regulations, for the security in the particular position.
Maintenance Call
A Maintenance Call will originate when the Maintenance Requirement exceeds the equity in a margin account.
Maintenance Of Net Worth
An issuer is required to maintain its net worth above a certain level, or the bonds will be required to begin redeeming at par.
Maintenance Requirement
NYSE regulations require a client to maintain a certain level of equity in his/her margin account to support a margin loan.
Managed Service
The types of managed money accounts.
Management Fees
The fee charged by a fund's investment advisor for managing the fund.
Managing Underwriter
The leading underwriter of an offering that acts as an agent for the underwriting group. This underwriting group is formed for the sole purpose of issuing securities for an entity, such as a corporation.
Margin Account
A margin account is a loan account. Margin is an extension of credit by Woodbury Financial Services using marginable securities as collateral that you deposited or purchased in the open market.
Margin Balance
This balance represents either a debit balance, which is the amount of money owed to Woodbury Financial Services as a result of such transactions as trade commitments or Visa charges or a credit balance, which is the amount of money held in your account after all commitments or Visa charges have been paid in full.
Margin Equity
The net value of your portfolio in a margin account. It is derived by taking your Long Market Value (LMV) minus any Short Market Value (SMV) adding any Margin Credit Balance (CR) or subtracting any Margin Debit Balance (DR).
Margin Interest Rate
Indicates the rate that is used to calculate margin interest for this account.
Margin Requirement (For Options)
The amount an uncovered (naked) option seller (writer) is required to deposit and maintain to cover his or her daily position valuation and reasonably foreseeable intraday price changes.
Market (MKT)
This is an order to buy or sell a stated amount of a security at the most advantageous price obtainable at the time the order is submitted.
Market Cap ($MM)
Latest price of the stock multiplied by the number of shares outstanding, shown in millions.
Market Commentary
Provides statistics, market summary and price movements on notable stocks.
Market Price
The current price of a share of stock on the exchange on which the stock is traded.
Market Risk
The risk associated with the movement of an investment's price. If the price generally fluctuates widely, there is a risk that the price may move up or down shortly before or after a sale or purchase.
Market Value
Current market price multiplied by the number of shares outstanding.
Maturity
The date on which the par/face value becomes due for payment by the issuer.
Maturity Value
The sub-account value on the maturity date.
Max Sales Chg/Max CDSC
The highest initial (front-end) or deferred (back-end) sales charge, expressed in percentage terms. See Load Type.
Maximum Loss Per Share
The maximum loss that would be incurred after the Underlying Equity and Put Option were simultaneously purchased at Current Market Prices.
Maximum Offering Price
The highest price that may be charge for purchases of fund shares, including the maximum contingent deferred sales charge or the maximum front end sales charge, whichever is applicable.
Medium Term Bond
A debt instrument with a maturity of two to ten years.
Mid-Cap Growth Funds
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) of less than 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Index.
Minimum Investment
The least amount of money that a person may invest in a fund to open an account. Many funds vary this figure depending upon the type of account, with Uniform Gift to Minors Act and Individual Retirement Account purchases having lower minimum initial investment requirements.
Modified Endowment Contract
Modified Endowment Contract. A life insurance contract which fails the internal revenue code's "7-Pay test." Any distributions form a MEC are taxed as if the contract was an annuity.
Money Funds
Cash equivalent with near or immediate liquidity and low volatility and risk. The most common fund is a money market fund which typically seeks to maintain a net asset value of $1.
Money Market Securities
Short-term debt securities, such as U.S. Treasury bills, certain certificates of deposit (CDs) and commercial paper, which can offer a high degree of liquidity and relative safety.
Moody's
A nationally recognized statistic rating organization that rates the quality of securities according to the credit worthiness of their issuers.
Moody's Rating
A measure of the quality and safety of a bond, based on the issuer's financial condition. More specifically, an evaluation from Moody's Investor Services, Inc. rating service indicating the likelihood that a debt issuer will be able to meet scheduled interest and principal repayments.
Mortgage Bonds
Bonds backed by claim on real property (real estate) owned by the issuer. Usually issued by large utilities.
Multi-Cap Growth Funds
Funds that, by portfolio practice, invest in a variety of market capitalization ranges, without concentrating 75% of their equity assets in any one market capitalization range over an extended period of time.
Municipal Bond
A debt obligation issued by states, cities, counties and other governmental entities to raise money to finance public projects like schools, sewage systems, highways, etc.
Municipal Note
Short-term municipal bond with a maturity of one year or less.
Municipal Revenue Bond
Bond issued by a municipality to finance a specific public works project and supported by the revenues of that project.
Mutual Fund
A managed portfolio of stocks, bonds and/or cash investments. The fund is professionally managed in accordance with the stated investment objective of the fund.
Specifies the minimum percentage of equity that must be maintained, pursuant to SEC regulations, for the security in the particular position.
Maintenance Call
A Maintenance Call will originate when the Maintenance Requirement exceeds the equity in a margin account.
Maintenance Of Net Worth
An issuer is required to maintain its net worth above a certain level, or the bonds will be required to begin redeeming at par.
Maintenance Requirement
NYSE regulations require a client to maintain a certain level of equity in his/her margin account to support a margin loan.
Managed Service
The types of managed money accounts.
Management Fees
The fee charged by a fund's investment advisor for managing the fund.
Managing Underwriter
The leading underwriter of an offering that acts as an agent for the underwriting group. This underwriting group is formed for the sole purpose of issuing securities for an entity, such as a corporation.
Margin Account
A margin account is a loan account. Margin is an extension of credit by Woodbury Financial Services using marginable securities as collateral that you deposited or purchased in the open market.
Margin Balance
This balance represents either a debit balance, which is the amount of money owed to Woodbury Financial Services as a result of such transactions as trade commitments or Visa charges or a credit balance, which is the amount of money held in your account after all commitments or Visa charges have been paid in full.
Margin Equity
The net value of your portfolio in a margin account. It is derived by taking your Long Market Value (LMV) minus any Short Market Value (SMV) adding any Margin Credit Balance (CR) or subtracting any Margin Debit Balance (DR).
Margin Interest Rate
Indicates the rate that is used to calculate margin interest for this account.
Margin Requirement (For Options)
The amount an uncovered (naked) option seller (writer) is required to deposit and maintain to cover his or her daily position valuation and reasonably foreseeable intraday price changes.
Market (MKT)
This is an order to buy or sell a stated amount of a security at the most advantageous price obtainable at the time the order is submitted.
Market Cap ($MM)
Latest price of the stock multiplied by the number of shares outstanding, shown in millions.
Market Commentary
Provides statistics, market summary and price movements on notable stocks.
Market Price
The current price of a share of stock on the exchange on which the stock is traded.
Market Risk
The risk associated with the movement of an investment's price. If the price generally fluctuates widely, there is a risk that the price may move up or down shortly before or after a sale or purchase.
Market Value
Current market price multiplied by the number of shares outstanding.
Maturity
The date on which the par/face value becomes due for payment by the issuer.
Maturity Value
The sub-account value on the maturity date.
Max Sales Chg/Max CDSC
The highest initial (front-end) or deferred (back-end) sales charge, expressed in percentage terms. See Load Type.
Maximum Loss Per Share
The maximum loss that would be incurred after the Underlying Equity and Put Option were simultaneously purchased at Current Market Prices.
Maximum Offering Price
The highest price that may be charge for purchases of fund shares, including the maximum contingent deferred sales charge or the maximum front end sales charge, whichever is applicable.
Medium Term Bond
A debt instrument with a maturity of two to ten years.
Mid-Cap Growth Funds
Funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) of less than 300% of the dollar-weighted median market capitalization of the S&P Mid-Cap 400 Index.
Minimum Investment
The least amount of money that a person may invest in a fund to open an account. Many funds vary this figure depending upon the type of account, with Uniform Gift to Minors Act and Individual Retirement Account purchases having lower minimum initial investment requirements.
Modified Endowment Contract
Modified Endowment Contract. A life insurance contract which fails the internal revenue code's "7-Pay test." Any distributions form a MEC are taxed as if the contract was an annuity.
Money Funds
Cash equivalent with near or immediate liquidity and low volatility and risk. The most common fund is a money market fund which typically seeks to maintain a net asset value of $1.
Money Market Securities
Short-term debt securities, such as U.S. Treasury bills, certain certificates of deposit (CDs) and commercial paper, which can offer a high degree of liquidity and relative safety.
Moody's
A nationally recognized statistic rating organization that rates the quality of securities according to the credit worthiness of their issuers.
Moody's Rating
A measure of the quality and safety of a bond, based on the issuer's financial condition. More specifically, an evaluation from Moody's Investor Services, Inc. rating service indicating the likelihood that a debt issuer will be able to meet scheduled interest and principal repayments.
Mortgage Bonds
Bonds backed by claim on real property (real estate) owned by the issuer. Usually issued by large utilities.
Multi-Cap Growth Funds
Funds that, by portfolio practice, invest in a variety of market capitalization ranges, without concentrating 75% of their equity assets in any one market capitalization range over an extended period of time.
Municipal Bond
A debt obligation issued by states, cities, counties and other governmental entities to raise money to finance public projects like schools, sewage systems, highways, etc.
Municipal Note
Short-term municipal bond with a maturity of one year or less.
Municipal Revenue Bond
Bond issued by a municipality to finance a specific public works project and supported by the revenues of that project.
Mutual Fund
A managed portfolio of stocks, bonds and/or cash investments. The fund is professionally managed in accordance with the stated investment objective of the fund.