Balance sheet - A statement produced by a company detailing a breakdown of assets, capital and current liabilities.
Bond - Commonly called fixed-income securities, bonds allow companies, institutions and governments to borrow money from investors, typically for fixed periods and with an agreed rate of return, followed by the repayment of the initial capital.
Book runner - The book runner is the main underwriter or lead manager in the issuance of new equity, debt or securities instruments. In investment banking, the book runner is the underwriting firm that runs, or is in charge of, the books.
Buy-side - On the ‘buy-side’, investors provide the capital to purchase equity or debt securities, seeking a return on invested funds.
Capital markets - Capital markets are the means by which investors can own, exchange and value assets such as bonds and stocks. Capital markets match the demand for funding from companies, governments, and institutions, with the investors who have funds and are seeking a return on these funds.
Corporate broking - Corporate brokers act as intermediaries between companies and the market, constantly assess market conditions, investors’ sentiment or demand for the company’s shares, and actively engage with investors on a company’s behalf.
Coupon - A term used to describe the annual rate of interest paid on a bond.
Debt capital markets (DCM) - Debt capital markets involve the issuing and trading of debt instruments, such as government and corporate bonds. These let companies, institutions and governments borrow money from investors – usually for fixed periods and with an agreed rate of return.
Derivative - A security whose price moves in relation to the price of single or multiple underlying assets. These assets include market indices, stocks, bonds, commodities or currencies.