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


V-BOTTOM FORMATION
V-bottoms are a fairly rare formation in technical analysis and usually signal some sort of artificial interference in the progress of the market. For example, the V-bottom which occurred in... read more
 
V-TOP FORMATION
Changes in the direction of market sentiment from bullish to bearish represent points or periods at which the sentiment has shifted from positive to negative. Usually this takes place over a... read more
 
VACANCY RATE
This is the percentage of a property company's rentable space which is vacant. It is a key statistic in the assessment of real estate investment trusts (REIT) and property companies. It is especially... read more
 
VALUE ADDED TAX
A tax which is applied to the value added by an organisation to a product. The value added is measured by the difference between what a company paid for a product and what it is able to sell... read more
 
VALUE AT RISK
A measure of exposure within a given portfolio, which attempts to estimate how much the portfolio would be expected to lose, given the recent behaviour of the securities contained therein.
 
VALUE GROUP LIMITED
17 - 06- 2020
Value Group (VLE) is a logistics company operating in Southern Africa with six divisions (1) Transportation (2) Distribution (3) Warehousing (4) Import and Export (5) Materials... read more
 
VALUE-WEIGHTED INDEX
A market average such as Standard & Poor's 500 Index that takes into account the market value of each security's market capitalisation rather than calculating a straight price average.
 
VAR
A measure of exposure within a given portfolio, which attempts to estimate how much the portfolio would be expected to lose, given the recent behaviour of the securities contained therein.
 
VARIABLE LIMIT
A price system that allows for larger than normal allowable price movements under certain conditions. In periods of extreme volatility, some exchanges permit trading at price levels that exceed... read more
 
VARIABLE RATE PREFERENCE SHARE
A preference share which receives a dividend based on a variable - like the prime overdraft rate from a specific bank. These shares are relatively rare, but they do exist. They have slightly... read more
 
VARIABLE-LENGTH MOVING AVERAGE
A moving average where the number of periods selected for smoothing is based on a volatility measurement of price. Typically, the standard deviation of price is used to measure price volatility.... read more
 
VARIANCE FUTURE
A derivative instrument where the holder buys the variance from a future strike price at a specific future date. In South Africa these are known as "savi squared" and they allow investors to... read more
 
VARIATION MARGIN
Additional margin required to be deposited by a clearing member firm to the clearinghouse during periods of great market volatility or in the case of high-risk accounts.
 
VAT
A tax which is applied to the value added by an organisation to a product. The value added is measured by the difference between what a company paid for a product and what it is able to sell... read more
 
VCM
 
VEGA
The amount by which the price of an option changes when the volatility changes.
 
VELOCITY OF CIRCULATION
The speed with which money circulates in the economy. In a recession, money tends to circulate more slowly than in a boom. When money is circulating more slowly, it takes longer for the inflationary... read more
 
VENTURE CAPITAL
High-risk, start-up operations which normally raise capital by selling shares in a public unlisted company directly to the public through a team of commissioned salespeople. These are always... read more
 
VENTURE CAPITAL MARKET
 
VERIMARK HOLDINGS LIMITED
Verimark (VMK) is a well-known South African retailer of unusual products which cannot generally be found in conventional shops. It sources, develops and distributes products in housewares, fitness,... read more
 
VERTICAL SPREAD
A stock option spread based on simultaneous purchase and sale of options on the same underlying stock with the same expiration months but different strike prices.
 
VESTING
The rights that an employee gains for working at a firm for a specific length of time.
 
VIS
06 - 04 - 2020
Visual International Holdings (VIS) is a small, cash-strapped property development company operating in the Cape Town area. The company announced on 2nd July 2018 that publication... read more
 
VIS MAJOR
In law this refers to an unpredictable event which prevents one party from completing its obligations in terms of a contract. Most major contracts contain a force majeure clause which allows... read more
 
VISUAL INTERNATIONAL HOLDINGS LIMITED
06 - 04 - 2020
Visual International Holdings (VIS) is a small, cash-strapped property development company operating in the Cape Town area. The company announced on 2nd July 2018 that publication... read more
 
VIVO ENERGY PLC
29 - 07 - 2020
Vivo (VVO) is an energy share which owns Shell service stations mainly in South Africa, but also in other countries in Africa to the North. Vivo has bought 230 service stations... read more
 
VKE
03 - 07- 2020
Vukile (VKE) is a real estate investment trust (REIT) trading on the JSE and the Namibian Stock Exchange. It owns properties directly, shares in other REITs, property in the... read more
 
VLE
17 - 06- 2020
Value Group (VLE) is a logistics company operating in Southern Africa with six divisions (1) Transportation (2) Distribution (3) Warehousing (4) Import and Export (5) Materials... read more
 
VMK
Verimark (VMK) is a well-known South African retailer of unusual products which cannot generally be found in conventional shops. It sources, develops and distributes products in housewares, fitness,... read more
 
VOD
24 - 07 - 2020
Vodacom (VOD) is South Africa's largest airtime and data provider for cell phones. It is a subsidiary of the international company Vodaphone. Its competitors are MTN, Cell-C... read more
 
VODACOM GROUP LTD
24 - 07 - 2020
Vodacom (VOD) is South Africa's largest airtime and data provider for cell phones. It is a subsidiary of the international company Vodaphone. Its competitors are MTN, Cell-C... read more
 
VOLATILITY
The degree to which a share deviates from its average. High volatility is associated with risk, both fundamental and technical. For example, shares in marginal gold mines can be extremely volatile... read more
 
VOLUME
The number of shares changing hands during a single trading day. This figure is calculated by counting the number of shares traded in a particular security daily, which gives the daily traded... read more
 
VOLUME PRICE TREND
In which a running sum is maintained when a day's total volume is added if the market closes positive or the day's total volume is subtracted if the market closes lower. In this calculation the... read more
 
VOLUME WEIGHTED AVERAGE PRICE
This is the average price weighted for the volume traded each day over a defined period such as the previous 30 days. The VWAP is used to price rights issues, acquisitions, mergers and other... read more
 
VOLUNTARY CORPORATE ACTION
A corporate action which requires a decision from shareholders - such as a rights issue. With a rights issue, shareholders must decide whether to take up the rights or not. If they do not take... read more
 
VOTING AND NON-VOTING PREFERENCE SHARES
Preference shares are usually non-voting, but can also be voting shares.  If given the ability to vote the value of the shares is greater. Because preference shares do not participate in the... read more
 
VUKILE PROPERTY FUND LIMITED
03 - 07- 2020
Vukile (VKE) is a real estate investment trust (REIT) trading on the JSE and the Namibian Stock Exchange. It owns properties directly, shares in other REITs, property in the... read more
 
VUN
10 - 09 - 2020
Vunani (VUN) is a black-owned financial services group with interests in asset management, investment, banking, property and stockbroking. It also has an interest in coal... read more
 
VUNANI LIMITED
10 - 09 - 2020
Vunani (VUN) is a black-owned financial services group with interests in asset management, investment, banking, property and stockbroking. It also has an interest in coal... read more
 
VVO
29 - 07 - 2020
Vivo (VVO) is an energy share which owns Shell service stations mainly in South Africa, but also in other countries in Africa to the North. Vivo has bought 230 service stations... read more
 
VWAP
This is the average price weighted for the volume traded each day over a defined period such as the previous 30 days. The VWAP is used to price rights issues, acquisitions, mergers and other... read more