List of Glossary Terms

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Numeric


RACP
31 - 07 - 2020
RECM and Calibre (RACP) is an investment holding company which has listed its preference shares on the JSE since June 2010. The company is controlled by Theunis de Bruyn,... read more
 
RAF
Road Accident Fund (RAF) levy. This is a levy collected on every litre of petrol sold for the road accident fund, which is used to pay out victims of accidents on our roads. In July 2018 the... read more
 
RALLY
A temporary upturn in the price of a share or index or other data stream, which occurs during an overall bear trend. The opposite of a correction.
 
RALLY TOPS
A series of tops in an established ongoing trend. A bull trend will have a number of rally tops as bulls and bears get in and out of the market. Although the general sentiment in a bull trend... read more
 
RAND
The currency of South Africa. The currency is also used in Lesotho and Namibia while other countries in the area have pegged their currencies to the rand. The rand took over from the British... read more
 
RAND COST AVERAGING
The idea of buying more of an investment after a large price move so that the average price is less volatile. Unit trusts make much of this idea because most investors buy small quantities of... read more
 
RAND HEDGE
Some companies listed on the JSE, receive most of their income in a foreign currency like US dollars, yen or British pounds. These companies benefit directly when the rand falls in value because... read more
 
RANDOM WALK
A theory that says there is no sequential correlation (no "dependence") between prices from one day to the next, and that prices will act unpredictably as they seek a level in response to supply... read more
 
RANGE
The difference between the high and low price during a given period.
 
RAPAPORT GROUP
An international network of companies providing services to the diamond industry. Rapaport has a magazine and a Rapnet - a diamond trading network with $7,5bn worth of listings every day. The... read more
 
RAPNET
An international network of companies providing services to the diamond industry. Rapaport has a magazine and a Rapnet - a diamond trading network with $7,5bn worth of listings every day. The... read more
 
RAROC
Another measure of risk-adjusted profitability, derived as the ratio between P/L and value at risk.
 
RATE
A forex term used to describe the price of one currency in terms of another, typically used for dealing purposes. 
 
RATE OF CHANGE
 
RATING
The perception of a share among investors. Shares which regularly generate rising earnings over a long period of time enjoy the highest ratings among investors. Conversely, shares whose earnings... read more
 
RATINGS AGENCY
An agency that rates the debt instruments of governments, parastatals and companies. There are three primary ratings agencies - Fitch, Standard & Poors and Moodys. Their ratings have a major... read more
 
RATINGS DOWNGRADE

The world has three major ratings agencies, Fitch, Moodys and Standard and Poors that constantly monitor and... read more

 
RATIO
The relationship between two figures from the financial statements, designed to show the profitability or effectiveness of the management within a company. Ratios have no absolute significance,... read more
 
RAV
03- 09 - 2020
Raven Property Group (previously Raven Russia) (RAV), which took a secondary listing on the JSE from 10th September 2018, specialises in property in Russia and it is the 18th... read more
 
RAW MATERIALS
These are the materials from which products are manufactured. Many of them (called commodities) are traded on an organised exchange. Manufacturing companies' inventory is... read more
 
RBP
05 - 08 - 2020
Royal Bafokeng Platinum (RBP) is a platinum company controlled by Royal Bafokeng Holdings (RBH) which holds about R32bn worth of assets on behalf of the Bafokeng tribe, a... read more
 
RBX
10 - 09 - 2020
Raubex (RBX) is a construction company that was started in 1974 and listed on the JSE in 2007. The company has three divisions in construction, materials and infrastructure.... read more
 
RCL
01 - 09 - 2020
RCL is a large producer of food, sugar products and chicken in South Africa which is owned 78% by Remgro. The company owns a number of very well-known South African brands... read more
 
RDF
13 - 08 - 2020
Redefine (RDF) is the second largest real estate investment trust in South Africa (after Growthpoint) with assets worth R108bn against a market capitalisation of R48bn. The... read more
 
RDI
Rockwell (RDI) develops and operates alluvial diamond deposits. The company owns and operates the Wouterspan property in Douglas, South Africa. This property has previously been mined, but has... read more
 
REACTION
A short-term decline in price.
 
REAL BODY
That part of a candlestick chart which appears between the opening and closing prices. Normally, if the close is below the open, the bears are said to have won the day and the candle is coloured... read more
 
REAL ESTATE INVESTMENT TRUST
The standard and internationally recognised structure for a property investment company. REITs (pronounced "reet") came into effect in South Africa from the beginning of 2012. These are listed... read more
 
REAL INTEREST RATE
The interest rate after deducting inflation. Fixed interest deposits earn interest, but most people who place their surplus funds in a fixed deposit do not take into account the impact of inflation... read more
 
REAL RETURN
The return on an investment after inflation and tax have been deducted. The return before inflation is deducted is known as the nominal return. You should remember that the after-tax real return... read more
 
REAL VALUE
The real value of a share only exists as an opinion. Everyone has an opinion about whether a share is over- or under-priced. In relation to what? In relation to their perception of its real value.... read more
 
REAL-TIME QUOTES
Market quotations which are not delayed.
 
REALISED PROFIT/GAIN
A profit, which is actually in the bank, as opposed to a market appreciation. If you buy shares for R10 and they rise to R12 then you have a market appreciation of R2. Only if you then sell them... read more
 
REALISED/UNREALISED P/L
 
REB
07 - 09 - 2020
Rebosis (REB) was the first substantially black-owned and black-controlled real estate investment trust (REIT) listed on the JSE. It has a 50% exposure to retail property... read more
 
RECEIVER OF REVENUE
The Receiver of Revenue in South Africa, tasked with collecting taxes and customs duties. Since the advent of the ANC government, tax collections in South Africa have improved noticeably, and... read more
 
RECESSION
A cyclical period of lower economic activity, occurring at regular intervals; as opposed to a depression, which is a period of major economic downturn with high unemployment and declining gross... read more
 
RECIPROCAL
A mathematical term which means the inverting of a fraction. Thus the reciprocal of 3/4 is 4/3. This term is used to describe the difference between an earnings yield (EY) and a price:earnings... read more
 
RECKLESS LENDING
The National Credit Act does not allow financial institutions to lend money to people who cannot afford to repay it. Under the Act, the financial institution must ensure that the borrower has... read more
 
RECM & CALIBRE
20 - 08 - 2020
RECM and Calibre (RACP) is an investment holding company which has listed its preference shares on the JSE since June 2010. The company is controlled by Theunis de Bruyn,... read more
 
RECORD DATE
The day determined by the issuer on which the holding, upon which the entitlement is based, is ascertained.
 
RECORD HIGH
The highest point that an index (or other financial indicator) has reached since it was first recorded. Thus the S&P500 index reached a record high of 3386.15 on 19th February 2020, just... read more
 
RECTANGLE
A charting formation in which a share's (or any security) price is bound between two horizontal lines. The upper horizontal line represents resistance at that price level. The bottom horizontal... read more
 
REDEEMABLE PREFERENCE SHARE
This refers to preference shares or debentures, which are issued with the specific undertaking that they will be bought back or paid out by the company at a certain future date. So redeemable... read more
 
REDEMPTION DATE
The date on which redeemable preference shares or debentures will be redeemed or paid back by the company. These are really forms of long-term indebtedness, which clearly have to be paid back... read more
 
REDISCOUNT RATE
This is the "repurchase rate" - an interest rate which is set by the supply and demand for money between the Reserve Bank and the commercial banks.It is also sometimes known as the "base rate"... read more
 
REFINANCING
The process whereby an organisation reorganises its financial support, usually to obtain longer repayment dates or to replace more expensive debt with less expensive debt. Large organisations... read more
 
REGISTER OF MEMBERS
A register of a company's shareholders giving details of the shareholder's name and the number of shares held of each class as well as any restrictions on the sale or transfer of those shares.... read more
 
REGISTERED FINANCIAL SERVICES PROVIDER
Any person or organization that wishes to engage in the business of asset management or investment advice must first register with the Financial Services Board as a "Financial Services Provider"... read more
 
REGISTERED OFFICE
In terms of the Companies Act (71 of 2008) every company must have a registered office. That office must be where certain records are maintained and the company must ensure that the address of... read more
 
REGISTRAR OF COMPANIES
An old term used under the old Companies Act. Under the new Companies Act (71of 2008) the Registrar of Companies is replaced by the Companies and Intellectual Property Commission (CIPC). The... read more
 
REGISTRATION CERTIFICATE
When a company is registered with the Companies and Intellectual Property Commission (CIPC) the commission issues a registration certificate and the date of that certificate marks the commencement... read more
 
REGRESSION LINE
A regression line is a mathematical construct which is used in technical analysis - and especially in the construction of a time series moving average. A regression line is a line drawn through... read more
 
REGULAR TRADING HOURS
The standard, morning/afternoon trading sessions at the U.S. markets.
 
REHABILITATION
Mines are required by law in South Africa to set aside funds so that at the end of the mine's life the ground where the mine was can be returned as far as reasonably possible to its original... read more
 
REINSURANCE
The process whereby insurance companies purchase insurance to cover them against some or all of the risks which they have insured. This obviously reduces their risk, but it also increases their... read more
 
REIT
The standard and internationally recognised structure for a property investment company. REITs (pronounced "reet") came into effect in South Africa from the beginning of 2012. These are listed... read more
 
REIT DISTRIBUTION
A Dividend paid out by a REIT to investors. REITs (Real Estate Investment Trusts) are investment vehicles listed on the JSE that provide exposure to income generating property. They are required... read more
 
RELATED PARTY TRANSACTION
A related party is one who has an interest in a transaction made by a company and yet stands to gain from the transaction. In other words, he/she has a conflict of interest. Normally when this... read more
 
RELATED PERSON
A Companies Act (71 of 2008) term (section 75) which refers to any person who is directly or indirectly related to the director of a company, including his/her spouse, children, parents and siblings... read more
 
RELATIVE RETURN
The annualised return on an investment in excess of the average three-month US Treasury bill yield during the same period as the investment. This statistic measures the return on an investment... read more
 
RELATIVE RETURN STANDARD DEVIATION
Measures the amount of variability of the relative return. A large relative return standard deviation indicates that the relative return experienced during the holding period fluctuated dramatically... read more
 
RELATIVE STRENGTH INDEX
An indicator invented by Welles Wilder, Jr (see his book, New Concepts in Technical Trading Systems) and used to ascertain overbought/oversold and divergent situations. The RSI is a momentum... read more
 
REM
29 - 09 - 2020
Johann Rupert's Remgro (REM) is an investment holding company which owns 28,2% of Rand Merchant Bank Holdings (RMH) and 3,9% of Firstrand. RMBH owns 34,1% of Firstrand too... read more
 
REMAINING LIFE
An estimate of how long a mine will be able to extract gold (or other minerals) profitably, given the lease area and the expected grade. Clearly an assumption has to be made about the future... read more
 
REN
20 - 10 - 2020
Renergen (REN) describes itself as an "integrated alternative energy business" which invests in renewable energy projects in Africa. The company listed on the JSE in June... read more
 
RENEWABLE ENERGY
Energy which is not derived from the burning of fossil fuels. There are six types of renewable energy - solar, wind, hydroelectric, tidal, geothermal and biomass. These types of energy are infinitely... read more
 
RENEWABLES
Energy which is not derived from the burning of fossil fuels. There are six types of renewable energy - solar, wind, hydroelectric, tidal, geothermal and biomass. These types of energy are infinitely... read more
 
RENKO CHARTING
A kind of charting, similar to point and figure, that does not take time into account. Invested by the Japanese, renko charting focuses on changes in the price movement that satisfy a specific... read more
 
RENMINBI
The unit of the Chinese currency - also called a "yuan", which means "round".
 
RENUNCIATION DATE
The day on which a shareholder must take up his/her rights in a rights issue or lose them. A rights issue is a mechanism whereby a company can raise capital from its existing shareholders by... read more
 
REPLACE ORDER
To modify an existing, pending or working order.
 
REPLACEMENT COST
The current cost of replacing an asset which may be on the books of account at its depreciated value. The replacement cost of an asset is usually higher than the value at which the asset is held... read more
 
REPO RATE
This is the "repurchase rate" - an interest rate which is set by the supply and demand for money between the Reserve Bank and the commercial banks.It is also sometimes known as the "base rate"... read more
 
REPO RATE
The interest rate charged by a central bank to commercial banks. Commercial banks add a "mismatch factor" (usually about 3,5% in South Africa) onto the repo rate to arrive at their prime overdraft... read more
 
REPO 
This is the "repurchase rate" - an interest rate which is set by the supply and demand for money between the Reserve Bank and the commercial banks.It is also sometimes known as the "base rate"... read more
 
REPORTABLE IRREGULARITY
Auditors are required to report anything which they find during the course of their audit which indicates fraud, a breach of fiduciary duties, or anything which might cause the shareholders of... read more
 
REPORTING PERIOD
The period of time over which the financial affairs of a company are being accounted for in the financial statements. The matching principle ensures that the incomes... read more
 
REPURCHASE AGREEMENT
A form of short-term financing between dealers in government bonds whereby a government debt instruments are temporarily sold and then re-purchased the next day - usually at a slightly higher... read more
 
RES
27 - 08 - 2020
The Resilient group of companies (Resilient, Lighthouse - previously Greenbay, Rockcastle and Fortress) used to be the high-flyers of the property sector until the beginning... read more
 
RESERVE
A figure from the liabilities side of the balance sheet, which is money ploughed back into the business out of profits, arising from a revaluation of assets, or money set aside for the redemption... read more
 
RESERVE ARISING ON ACQUISITION
A reserve which arises as a result of a holding company paying less for a subsidiary than its book value. The difference is shown in the balance sheet as a liability.
 
RESERVE ASSET
An asset which will hold its value irrespective of any developments in the economy. Investors are primarily concerned with achieving a balance between risk and security.... read more
 
RESERVE BANK
The South African Reserve Bank is the central bank of the Republic of South Africa. The Bank was established in 1921 in terms of a special Act of Parliament, the Currency and Bank Act of 10 August... read more
 
RESERVE BANK BULLETIN
The bulletin is published by the Reserve Bank every quarter and in avaliable in PDF format free of charge. The bulletin covers a very wide range of information and comment on the progress of... read more
 
RESERVE RATE
The minimum amount of cash which commercial banks are required to keep with the central bank. In South Africa the reserve requirement is 2,5% of the bank's total liabilities at any point in time.... read more
 
RESERVE REQUIREMENT
The minimum amount of cash which commercial banks are required to keep with the central bank. In South Africa the reserve requirement is 2,5% of the bank's total liabilities at any point in time.... read more
 
RESIDENT
In terms of the Income Tax Act (1962), an individual who is ordinarily resident in South Africa under common law - or someone who meets the physical presence test. The physical presence test... read more
 
RESIDUAL ASSETS
Those assets which remain  or still belong to a company or individual after the secured creditors have been paid out. In a liquidation or bankruptcy, the liquidators will sell the assets... read more
 
RESIDUAL VALUE
The standard deviation of the unexplained portion of the monthly return.
 
RESISTANCE
A price level at which rising prices have stopped rising and either moved sideways or reversed direction; usually seen as a price chart pattern. Resistance levels are normally caused by one or... read more
 
RESISTANCE LINE
On a chart, a line drawn indicating the price level at which rising prices have stopped rising and have moved sideways or reversed direction.
(image) read more
 
RESOLUTION
There are two types of resolutions which can be voted and passed at shareholder meetings. The ordinary resolution which usually deals with normal business like the appointment of directors and... read more
 
RESOURCE NATIONALISM
The process whereby particularly African governments seek to get a higher return or ownership of companies involved in mining and the exploitation of natural resources. Governments in Africa... read more
 
RESOURCE SHARE
Shares of companies in the resource sector. Commodity shares are shares of those companies which manufacture, extract or sell commodities of various types. These shares are usually very volatile... read more
 
RESOURCES
Basically these are raw materials such as gold, silver, soya beans, sugar, coffee, steel, etc. Many commodities (such as gold) are traded in markets around the world. The gold price is set in... read more
 
RESTING ORDER
An order placed with a condition or qualifier but not yet executed.
 
RESTRUCTURING
The fundamental re-organisation of a company to improve its profitability. Usually a company will undertake a restructuring when it is under stress or to release shareholder value. Typically,... read more
 
RESUCE PLAN
A plan produced by the business rescue practitioner and presented to a meeting of creditors and holders of a voting interest for a company which has been placed into business rescue. In terms... read more
 
RESULTS PRESENTATION
A meeting at which a company's board will discuss its latest financials with major shareholders and institutions. Following the COVID-19 pandemic in 2020, these meetings are typically held online.... read more
 
RETAIL INVESTOR
A natural person (rather than a corporate entity) who invests on the stock market either directly or indirectly. Private investors make up only about 10% of the trades done on the JSE. The other... read more
 
RETAIL SALES
Those sales which are made to final consumers who buy products for their own use or consumption. Retail sales are measured monthly and are a key economic indicator because consumer spending accounts... read more
 
RETAINED EARNINGS
That portion of a company's profits which is ploughed back into the business rather than paid out as dividends - so the equation is: profits (earnings) - dividends = retained earnings. Companies... read more
 
RETENDER
In specific circumstances, some contract markets permit holders of futures contracts who have received a delivery notice through the clearinghouse to sell a futures contract and return the notice... read more
 
RETENTION RATE
Percentage of a firm's after-tax profits that can be put to those earnings retained.
 
RETRACEMENT
A period in a price chart showing movement opposite to the direction of the prior time period. Also called a "retracement" or sometimes a "counter trend". It has been well said that "nothing... read more
 
RETRACEMENT
A price movement in the opposite direction of the trend. These are corrections (in a bull trend) or a rallies (in a bear trend). A retracement implies that some of the ground lost or gained is... read more
 
RETURN
The return on an investment consists of income plus capital gain expressed as an annualized percentage of the original investment. The income can take the form of a dividend (shares), interest... read more
 
RETURN ON ASSETS
The net earnings of a company expressed as a percentage of its assets.
 
RETURN ON CAPITAL EMPLOYED
A ratio used to measure pre-tax profitability. It may be calculated as pre-tax profit plus interest paid, divided by total shareholders' funds.
 
RETURN ON EQUITY
A ratio calculated by taking the annual net earnings of a company as a percentage of its equity. Investors are always interested in the percentage return that they are getting on their investments.... read more
 
RETURN ON SHAREHOLDERS' FUNDS
A ratio calculated by taking the annual net earnings of a company as a percentage of its equity. Investors are always interested in the percentage return that they are getting on their investments.... read more
 
REVALUATION (OF ASSETS)
When a company purchases an asset the transaction is normally recorded in the books of account at purchase price (known as the book value). In time, however, the asset may come to be worth more... read more
 
REVALUATION RESERVE
A balance sheet item where funds are set aside to compensate for a negative asset revaluation. For example, if a company has bought a piece of land to develop and is carrying that asset... read more
 
REVENUE
A figure in the income statement of a company's financial statements which consists of the company's total sales or income figure.
 
REVENUE PER AVAILABLE ROOM
This is the average revenue collected by a hotel group per room. It is a key statistic fot that sector and is shotened to "revpar". It is calculated by multiplying a hotel's average daily room... read more
 
REVENUE RECOGNITION
This is the point at which the revenue which accrues from a transaction is recognised. For example, in the construction industry some contracts can last for several years and so bridge several... read more
 
REVERSAL GAP
When a share's price has been rising for some time and quickly, it will sometimes have a day where the lowest price is far above the previous day's high price - this shows on the chart as a gap... read more
 
REVERSAL SIGNAL
A term used in technical analysis to describe a formation found either at the top or bottom of a trend which signals that the trend is about to be reversed. Candlestick formations commonly form... read more
 
REVERSAL SIZE
In point and figure charting the number of reverse boxes required (set by the user) to indicate a change in the direction of the trend. So for example, in an upward trend, if the box size is... read more
 
REVERSAL STOP
A stop that, when hit, is a signal to reverse the current trading position, i.e., from long to short. Also known as stop and reverse.
 
REVERSE EXPONENTIAL MOVING AVERAGE
An exponential moving average computed working backward through the time series, rather than forward, as is the case with a standard EMA. A REMA is used so the target would reflect only future... read more
 
REVERSE HEAD AND SHOULDERS FORMATION
The opposite of a head-and-shoulders formation, this formation normally comes at the bottom of a long down-trend and signals the end of that down-trend. The market makes a left shoulder with... read more
 
REVERSE TAKE OVER
Where a company buys assets, the value of which greatly exceeds its net asset value in exchange for the majority of its shares - so that the seller of the assets ends up with a controlling stake.... read more
 
REWARD-RISK RATIO
Monthly excess return to risk comparison, calculated by dividing alpha by standard deviation. A ratio better than 0.4 is excellent.
 
REX TRUEFORM GROUP LIMITED
05 - 09 - 2020
Rex Trueform (RTO) is an extremely thinly-traded company listed on the JSE - which makes it completely impractical for private investors in its current form. The company was... read more
 
RFG
15 - 09 - 2020
Rhodes (RFG) is a Western Cape manufacturer of convenience foods - started by Cecil John Rhodes in 1896. It has several well-known South African brands like Bisto, Bull Brand... read more
 
RHB
03 - 08 - 2020
RH Bophelo (RHB) is a black-owed African healthcare company that listed on the JSE in July 2017 as a "special purpose acquisition company" (SPAC) after raising R500m (50 000... read more
 
RHODIUM
Rhodium is both a precious metal and one of the six platinum group metals (PGM). Most of the world's rhodium is produced in South Africa with about 83% of the total supply coming from this country.... read more
 
RICH
Price higher than expected.
 
RICHARD ARMS
Richard Arms was an American technical analyst and wrote books on technical analysis. He was most famous for his book "The Arms Index", but wrote many other books including "Trading... read more
 
RICKSHAWMAN
A candlestick formation which comprises of a very small or non-existent body and very long upper and lower shadows. The body of the candle is exactly in between the two shadows. The Rickshawman... read more
 
RIGHTS ISSUE
An offer of additional shares to existing shareholders, usually at a discount to the current market price. When a company wishes to raise additional capital, one of the ways it can do so is by... read more
 
RING FENCE
A guarantee given by government, a company or individual that a certain type of tax collection or revenue will not be spent on anything else except a specific type of expenditure. Governments... read more
 
RISING THREE METHODS
A bullish candlestick signal, formed in the progress of an established uptrend, and used to predict the continuation of the current trend. This formation begins with a long green candle within... read more
 
RISK
The probability that a share price will go down rather than up. All investments have an element of risk, which is always harder to quantify, mathematically, than their return, and therefore very... read more
 
RISK (IMPLIED)
In which the formula produces the percentage overbought/oversold for a contract using the price, a moving average and the option's implied volatility.
 
RISK AVERSE
A term used to describe individuals or funds which seek to avoid excessive investment risk. Most collective investment schemes (CIS) have rules to avoid taking excessive risks with the funds... read more
 
RISK PROFILE
The degree of risk that an investor is willing to take for a given potential return. The rule in investment is that risk and return should rise together. In other words, the more risky a potential... read more
 
RISK-ADJUSTED RETURN ON CAPITAL
Another measure of risk-adjusted profitability, derived as the ratio between P/L and value at risk.
 
RISK-OFF
A period when international investors are for some reason "spooked" and rush to take money out of more risky investments (like emerging markets) and place it in traditionally safe assets like... read more
 
RISK-ON
A time when short-term international investors feel comfortable with investing in more risky assets. This makes them inclined to invest in emerging markets like South Africa. During a risk-on... read more
 
RISK-WEIGHTED ASSET
A banking asset which is off-balance sheet and which is valued according to its risk. Risk-weighted assets (RWA) are valued by the directors with their valued... read more
 
RLF
07 - 11 - 2019
Rolfes (RLF) is a black-empowered chemicals company in the fledgling sector of the JSE which supplies products to the agricultural, chemicals, colourants, food ingredients... read more
 
RLO
19 - 06 - 2020
Reunert (RLO) is a company in electrical appliances, electrical engineering and information communications. The company has been in existence for 130 years and listed for... read more
 
RMI
21 - 09 - 2020
Rand Merchant Bank Holdings (RMH) is a company which owns 34,1% of Firstrand and, since 2016, has been investing in property. RMBH was started 41 years ago by GT Ferriera,... read more
 
RNG
01 - 09 - 2020
Randgold (RNG) is a mining exploration company. It has a strong asset base which is mostly now in cash. It is being used to pursue legal claims and may be applied to investment... read more
 
RNI
24 - 07 - 2020
Reinet (RNI) is an investment holding company whose main asset is a holding of roughly 3% of British American Tobacco (BAT) which now accounts for 40,6% of its net asset value... read more
 
ROAD ACCIDENT FUND LEVY
Road Accident Fund (RAF) levy. This is a levy collected on every litre of petrol sold for the road accident fund, which is used to pay out victims of accidents on our roads. In July 2018 the... read more
 
ROAD SHOW
A series of presentations undertaken by the directors of a listed company in order to encourage institutional investors to invest in their shares. Companies typically undertake a road show to... read more
 
ROBOTICS
The science of producing machines that can perform functions previously undertaken by humans. Robotics is advancing at a very rapidly and it is displacing human workers in many fields. It is... read more
 
ROLL
Substituting a far option for a near option on the same underlying instrument at the same strike price; also to roll forward or roll over.
 
ROLLOVER
 
ROTATION
Moving funds from one sector to another sector of the stock market as the business cycle unfolds.
 
ROTH IRA
 
ROUND LOT
A standard number of shares to be traded on a particular stock exchange. Usually, a round lot is 100 shares or muliples of 100. Thus, for example, 600 shares is a round lot while 632 shares is... read more
 
ROUND LOT
Also called a "round lot", this is the number of shares which is normally traded. On the JSE the marketable lot is 100 shares - as it is for most markets around the world. A few markets have... read more
 
ROUNDED TOP
A cycle top on a chart which drifts out and down in a gradual loss of momentum. This is as opposed to a "V" top which is very sharp and sudden. Also called an Umbrella Top, a Frying Pan Top,... read more
 
ROUNDING
The squaring up or down of an amount of shares to the nearest whole number. Some corporate actions can result in odd lots of shares occuring. For example, if a company undertakes a rights issue... read more
 
ROUNDTURN
A completed futures transaction involving both a purchase and a liquidating sale, or a sale followed by a covering purchase.
 
RPL
08 - 07 - 2020
RDI (RPL) is a real estate investment trust (REIT) listed on the London Stock Exchange (LSE) and incorporated into the FTSE 250 index. It has a secondary listing on the JSE... read more
 
RSG
03 - 08 - 2020
Resource Generation (RSG) is a junior coal mining company that is busy developing the Boikarabelo mine in the Waterberg in Limpopo Province. The company listed on the Australian... read more
 
RULING PRICE
The price at which the last trade on a security took place, unless there was a higher bid or a lower offer. So, for example, if the most recent trade took place at 100c, but there is an offer... read more
 
RUNNING MARKET
A market wherein prices are changing rapidly in one direction with very few or no price changes in the opposite direction.
 
RUNNING TOTAL
Each day's value is added to yesterday's total or subtracted if the value is negative.  
 
RWA
A banking asset which is off-balance sheet and which is valued according to its risk. Risk-weighted assets (RWA) are valued by the directors with their valued... read more