List of Glossary Terms
The PDSnet Glossary of Terms contains definitions and explanations for over 2600 financial market terms. These definitions are constantly kept up-to-date with current topical examples from the markets. They are also updated for changes in legislation and current events like COVID19 and the July 2021 civil unrest.
The terms in the Glossary are directly linked to all PDSnet articles, confidential reports, lecture modules and other material. This means that a client reading one of our publications can immediately see which terms are defined in the Glossary and click through to read the definition. Terms within the definitions in the glossary are similarly linked, which gives the Glossary an enormous educational depth share market investors.
| ABC |
Elliott wave terminology for a three-wave countertrend (or downtrend) price movement in an Elliott cycle. Wave "a" is the first down-wave... read more |
| DEATH CROSS |
In technical analysis when the 50-day moving average (MA) crosses down through the 200-day moving average on any data stream (i.e. a share,... read more |
| INSIDER TRADING |
The illegal dealing in shares by people who, because of their privileged position, have information that materially impacts on the value of the shares,... read more |
| TARIFF |
A tax or levy which is added to the cost of imports by a country, usually to protect its local industry. Tariffs increase the cost of imported goods thus... read more |
| LIBERATION DAY |
Proclaimed by US President Trump, Liberation Day was 2nd April 2025, the day on which Trump announced tariff's on most countries around the world based... read more |
| CIRCUIT BREAKER |
A system of limiting trading highs and price limits on equities and derivatives markets designed to provide a cooling-off... read more |
| CAPEX |
An abbreviation for capital expenditure. It is often used when referring to gold mines. It refers to expenditure of a capital nature - in other words, used... read more |
| HARD ASSET |
A commodity such as a metal or mineral. Most paper assets reflect some sort of claim to or against a hard asset, either directly or indirectly. The... read more |
| TWO POT RETIREMENT SYSTEM |
A new system for managing retirement funds implemented with effect from 1st September 2024, but affecting people who began their retirement fund earlier than that... read more |
| TURNING POINT |
The approximate time at which there is a change in trend. |
| SPECIAL DIVIDEND |
When a company has surplus cash it can sometimes pay a special dividend over and above its normal interim and final dividends. Companies accused... read more |
| ALTERNATIVE ASSET |
This is an asset which is not traded on any organised exchange in a conventional manner. So, for example, properties are alternative assets, but the shares... read more |
| PRICE TAKER |
A company or industry that has no power over the pricing of the products which it sells. Typically, mining companies have to accept the internationally... read more |
| PRICE MAKER |
An entity or individual with a sufficient monopoly in a product to increase prices. When there is strong demand for a product or a good brand loyalty,... read more |
| BUREAU FOR ECONOMIC RESEARCH |
An independent economic research institute affiliated with the University of Stellenbosch in South Africa. Established in 1944,it is renowned for its objective... read more |
| EXPROPRIATION OF LAND |
The compulsory taking over of land by the government of a country. In most capitalist... read more |
| MOODYS INVESTORS SERVICES |
This is one of the three major world-wide ratings agencies involved in rating bonds - both government and corporate. Generally, they will do an assessment... read more |
| SERVICE COMPANY |
A service company is one which sells some type of service to the public rather than a physical product. Service companies do not have the usual working... read more |
| 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... read more |
| ARTIFICIAL INTELLIGENCE |
Artificial intelligence (AI) is the replication of human intellectual capabilities in a computer. The abilities which are replicated are (1) Learning. The computer... read more |
| ZARONIA |
Zaronia is replacing the Johannesburg Interbank Overnight Rate (JIBAR) as the benchmark interest rate following scandals with the London Interbank... read more |
| JOHANNESBURG INTERBANK AGREED RATE |
The interest rate which banks in South Africa charge each other for funds lent in the open market and it is agreed by the ten largest financial... read more |
| TRANSACTION TIMING |
The exact point in time when the purchase or sale of an investment is executed. Transaction timing can have a significant impact on the profitability of... read more |
| ALGORITHMIC TRADING (ALGO) |
Trading automatically, usually without human intervention, through a computer system that is directly connected to an organised exchange. This type of trading... read more |
| AGRICULTURE |
An industry engaged in the production of a wide variety of products, both animal and vegetable, by means of cultivating the land. This industry is a major... read more |
| AGRICULTURAL PRODUCTS DIVISION |
A division of the JSE that runs spot markets and derivatives markets in agricultural grain products. The main products are soya... read more |
| AGENT |
A natural or juristic person who acts on behalf of another such person in a commercial transaction. When a stockbroker acts on behalf of his/her... read more |
| AGE REBATE |
The Income Tax Act (58 of 1962) offers three rebates - primary, secondary and tertiary. In the tax year ending on 28th February 2024, the primary... read more |
| AFTERNOON FIX |
Twice every trading day members of the London Gold Market Fixing meet on a conference call to decide the gold price - at 10.30am (the morning... read more |
| EUROPEAN PUBLIC REAL ESTATE ASSOCIATION |
The European Public Real Estate Association (EPRA) is the industry body for European real estate investment trusts (REIT). EPRA Net Initial Yield is a measure... read more |