can someone explain to me the hundreds of abbreviations people are use? From FT to IMC. can someone breakdown the most used abbreviations. I usually understand the topics once you tell me what the abbriv stands For. For example I understand M&A is mergers and acquisitions and what that means. but I don't get most of these abbreviations
edit: after looking at these response there are a shit load of answers to this question. but I can kind of narrow it down to the important ones and ones I want to keep in the back of my mind.
who else is overwhelmed by the shear amount of terms?
FT = Full time IBD= Investment banking division SA = Summer analyst S&T = Sales and Trading AM = Asset Management PE = Private equity HF = Hedge fund VC = Venture capital MO = Middle office BO = Back office FO = Front office RE = Real estate O&G = Oil and Gas ECM = Equity Capital Markets DCM = Debt Capital Markets Lev Fin = Leveraged Finance RX = Restructuring TMT = Technology, Media and Telecommunications C&R = Consumer & Retail NR = Natural resources FIG = Financial Institutions Group VP = Vice president MD = Managing director ER = Equity research BB = Bulge Bracket EB = Elite boutique MM = Middle market NB = Normal boutique EM = Emerging markets APAC = Asia Pacific LATAM = Latin America MENA = Middle East North Africa SWE = Software engineer FAANG = Facebook, Amazon, Apple, Netflix, Google EMEA = Europe Middle-East Asia SSG = Special Situations Group MBB = McKinsey Bain BCG (Bugle Bracket Consulting) PB = Private Banking PWM = Private Wealth Management HNW = High Net Worth UHNW = Ultra High Net Worth SFO = Single Family Office MF = Megafund (w.r.t. PE) or Mutual Fund L/S = Long/Short (w.r.t. HF strategies) LNG = Liquid Natural Gas BDC = Business Development Company SPV = Special Purpose Vehicle FX = Foreign Exchange SWF = Sovereign Wealth Fund FICC = Fixed Income Clearing Corporation CFTC = Commodities Futures Trading Commission SOFR = Secured Overnight Funding Rate REPO = Federal Reserve Repurchase Agreements LIBOR = London Interbank Offer Rate AUM = Assets Under Management YTM = Yield to Best YTW = Yield to Worst YOT = Yield over Treasuries YOC = Yield on Cost LTV = Loan to Value BEY = Bond Equivalent Yield PV = Present Value APV = Adjusted Present Value PVIF = Present Value Interest Factor FV = Future Value NIM = Net Interest Margin PIK = Payment in Kind ETF = Exchange Traded Fund ETN = Exchange Traded Note ETP = Exchange Traded Product CDO = Collateralized Debt Obligation CBO = Collateralized Bond Obligation CLO = Collateralized Loan Obligation ABS = Asset Backed Securities MBS = Mortgage Backed Securities RMBS = Residential Mortgage Backed Securities CMBS = Commercial Mortgage Backed Securities ABCP = Asset Backed Commercial Paper ABL = Asset Based Lending VCR = Variable Coupon Convertible Note CLN = Credit Linked Note FRN = Floating Rate Note VIE = Variable Interest Entities VRDN = Variable Rate Demand Note TVM = Time Value of Money TIE = Times Interest Earned TED = Treasury-EuroDollar FCCB = Foreign Currency Convertible Bond CIP = Covered Interest Rate Parity UIP = Uncovered Interest Rate Parity ZEBRA = Zero Basis Risk Swap BPS = Basis Points BP = Basis Point PIP = Price Interest Point IRR = Internal Rate of Return Z-Spread = Zero Volatility Spread CLT = Central Limit Theorem PITI = Principle, Interest, Taxes and Insurance CAGR = Compound Annual Growth Rate CV = Coefficient of Variation DL = Direct Lending DIP = Debtor in Possession PCL = Provision for Credit Losses VaR = Value at Risk CVaR = Conditional Value at Risk ANOVA = Analysis of Variance TV = Terminal Value TIPS = Treasury Inflation Protected Securities VIX = CBOE Volatility Index VXN = CBOE NASDAQ Volatility Index VOR = Value of Risk EAD = Exposure at Default CDS = Credit Default Swap CDX = Credit Default Index PIPE = Private Investment in Public Equity ELN = Equity Linked Note ELKS = Equity Linked Security USDX = US Dollar Index ERM = Exchange Rate Mechanism IMF = International Monetary Fund WTO = World Trade Organization ECB = European Central Bank EBA = European Banking Authority ECU = European Currency Union BOJ = Bank of Japan BOE = Bank of England XD = Ex-Dividend ExDiv = Ex-Dividend EPS = Earnings Per Share ACH = Automated Clearing House BIN = Bank Identification Number BOP = Balance of Payments BOT = Balance of Trade PPF = Production Possibility Frontier PMI = Purchasing Managers Index CPI = Consumer Price Index PCE = Personal Consumption Expenditures Index PLC = Private Limited Company CIM = Confidential Information Memorandum DCF = Discounted Cash Flow WACC = Weighted Average Cost of Capital WACE = Weighted Average Cost of Equity WAC = Weighted Average Coupon WAL = Weighted Average Life WAM = Weighted Average WARF = Weighted Average Rating Factor WART = Weighted Average Remaining Term WI = When Issued CAPM = Capital Asset Pricing Model AR = Accounts Receivable PP&E = Property Plant and Equipment CapEx = Capital Expenditures P&L = Profit and Loss OBS = Off Balance Sheet CF = Cash Flow FCF = Free Cash Flow CFO = Cash Flow from Operating activities CFF = Cash Flow from Financing activities RE = Real Estate or Retained Earnings CRE = Commercial Real Estate REPE = Real Estate Private Equity PDF = Probability Density Function PBT = Profit Before Tax P/E = Price to Earnings P/B = Price to Book P/CF = Price to Cash Flow P/FCF = Price to Free Cash Flow P/S = Price to Sales PEG = Price to Earnings Growth PTBV = Price to Tangible Book Value PROC = Price Rate of Change TBVPS = Tangible Book Value Per Share EMH = Efficient Markets Hypothesis P&F = Point and Figure FOK = Fill or Kill MACD = Moving Average Convergence Divergence EMA = Exponential Moving Average WMA = Weighted Moving Average MA = Moving Average RSI = Relative Strength Index A/D = Advance/Decline or Accumulation Distribution VPT = Volume Price Trend ADV = Average Daily Volume or Form ADV VWAP = Volume Weighted Average Price VPP = Volumetric Production Payment YoY = Year over Year YTD = Year to Date UIT = Unit Investment Trust UT = Unit Trust LP = Limit Partner(ship) GP = General Partner UFCF = Unlevered Free Cash Flow ULC = Unlimited Liability Corporation UST = United States Treasury UEP = Unified Endowment Pool TOT = Terms of Trade TANSTAAFL = There Ain't No Such Thing as a Free Lunch TINA = There is no Alternative TER = Total Expense Ratio ER = Expense Ratio TEV = Total Enterprise Value EV = Enterprise Value NAV = Net Asset Value ATM = At the Money ITM = In the Money OTM = Out of the Money BSM = Black Scholes Merton APT = Arbitrage Price Theory LNG = Liquid Natural Gas WTI = West Texas Intermediate BOE = Barrel of Oil Equivalent MLP = Master Limited Partnership E&P = Exploration and Production DTCC = Depository Trust & Clearing Corporation ETC = Exchange-Traded Commodity ETI = Exchange Traded Instrument
Let me know if I missed anything !
I think you forgot to mention YURI
ER Equity Research BB Bulge Bracket MM middle Market EB Elite boutique NB normal boutique
Edited
FAANG
Edited
MBB
EMEA = Europe Middle-East Africa SSG = Special Situations Group MBB = McKinsey Bain BCG (Bugle Bracket Consulting) PB = Private Banking PWM = Private Wealth Management HNW = High Net Worth UHNW = Ultra High Net Worth SFO = Single Family Office EM = Emerging Markets MSCI = Emerging Markets Index EMBI = Emerging Markets Bond Index MF = Megafund (w.r.t. PE) or Mutual Fund L/S = Long/Short (w.r.t. HF strategies) FoF = Fund of Funds HFoF = Hedge Fund of Funds PEFoF = Private Equity Fund of Funds BDC = Business Development Company SPV = Special Purpose Vehicle CTA = Commodity Trading Advisor FX = Foreign Exchange SWF = Sovereign Wealth Fund FICC = Fixed Income Clearing Corporation; Fixed Income, Currencies & Commodities The Agg = Bloomberg Barclays US Aggregate Bond Index HY = High Yield IG = Investment Grade CFTC = Commodities Futures Trading Commission SOFR = Secured Overnight Funding Rate REPO = Federal Reserve Repurchase Agreements LIBOR = London Interbank Offer Rate AUM = Assets Under Management YTM = Yield to Maturity YTB = Yield to Best YTW = Yield to Worst YOT = Yield over Treasuries YOC = Yield on Cost LTV = Loan to Value BEY = Bond Equivalent Yield PV = Present Value APV = Adjusted Present Value PVIF = Present Value Interest Factor FV = Future Value NIM = Net Interest Margin PIK = Payment in Kind ETF = Exchange Traded Fund ETN = Exchange Traded Note ETP = Exchange Traded Product CDO = Collateralized Debt Obligation CBO = Collateralized Bond Obligation CLO = Collateralized Loan Obligation ABS = Asset Backed Securities MBS = Mortgage Backed Securities RMBS = Residential Mortgage Backed Securities CMBS = Commercial Mortgage Backed Securities ABCP = Asset Backed Commercial Paper ABL = Asset Based Lending VCR = Variable Coupon Convertible Note CLN = Credit Linked Note FRN = Floating Rate Note FRA = Forward Rate Agreement VIE = Variable Interest Entities VRDN = Variable Rate Demand Note TVM = Time Value of Money TIE = Times Interest Earned TED = Treasury-EuroDollar FCCB = Foreign Currency Convertible Bond FDI = Foreign Direct Investment CIP = Covered Interest Rate Parity UIP = Uncovered Interest Rate Parity ZEBRA = Zero Basis Risk Swap BPS = Basis Points BP = Basis Point PIP = Price Interest Point IRR = Internal Rate of Return Z-Spread = Zero Volatility Spread CLT = Central Limit Theorem PITI = Principle, Interest, Taxes and Insurance CAGR = Compound Annual Growth Rate CV = Coefficient of Variation DL = Direct Lending DIP = Debtor in Possession PCL = Provision for Credit Losses VaR = Value at Risk CVaR = Conditional Value at Risk ANOVA = Analysis of Variance TV = Terminal Value TIPS = Treasury Inflation Protected Securities VIX = CBOE Volatility Index VXN = CBOE NASDAQ Volatility Index VOR = Value of Risk EAD = Exposure at Default CDS = Credit Default Swap CDX = Credit Default Index PIPE = Private Investment in Public Equity ELN = Equity Linked Note ELKS = Equity Linked Security USDX = US Dollar Index ERM = Exchange Rate Mechanism IMF = International Monetary Fund WTO = World Trade Organization ECB = European Central Bank EBA = European Banking Authority ECU = European Currency Union BOJ = Bank of Japan BOE = Bank of England XD = Ex-Dividend ExDiv = Ex-Dividend EPS = Earnings Per Share ACH = Automated Clearing House BIN = Bank Identification Number BOP = Balance of Payments BOT = Balance of Trade PPF = Production Possibility Frontier PMI = Purchasing Managers Index CPI = Consumer Price Index PCE = Personal Consumption Expenditures Index PLC = Private Limited Company CIM = Confidential Information Memorandum DCF = Discounted Cash Flow WACC = Weighted Average Cost of Capital WACE = Weighted Average Cost of Equity WAC = Weighted Average Coupon WAL = Weighted Average Life WAM = Weighted Average WARF = Weighted Average Rating Factor WART = Weighted Average Remaining Term WI = When Issued CAPM = Capital Asset Pricing Model AR = Accounts Receivable PP&E = Property Plant and Equipment CapEx = Capital Expenditures P&L = Profit and Loss OBS = Off Balance Sheet CF = Cash Flow FCF = Free Cash Flow CFO = Cash Flow from Operating activities CFF = Cash Flow from Financing activities RE = Real Estate or Retained Earnings CRE = Commercial Real Estate REPE = Real Estate Private Equity PDF = Probability Density Function PBT = Profit Before Tax P/E = Price to Earnings P/B = Price to Book P/CF = Price to Cash Flow P/FCF = Price to Free Cash Flow P/S = Price to Sales PEG = Price to Earnings Growth PTBV = Price to Tangible Book Value PROC = Price Rate of Change TBVPS = Tangible Book Value Per Share EMH = Efficient Markets Hypothesis P&F = Point and Figure FOK = Fill or Kill MACD = Moving Average Convergence Divergence EMA = Exponential Moving Average WMA = Weighted Moving Average MA = Moving Average RSI = Relative Strength Index A/D = Advance/Decline or Accumulation Distribution VPT = Volume Price Trend ADV = Average Daily Volume or Form ADV VWAP = Volume Weighted Average Price VPP = Volumetric Production Payment YoY = Year over Year YTD = Year to Date UIT = Unit Investment Trust UT = Unit Trust LP = Limit Partner(ship) GP = General Partner UFCF = Unlevered Free Cash Flow ULC = Unlimited Liability Corporation UST = United States Treasury UEP = Unified Endowment Pool TOT = Terms of Trade TANSTAAFL = There Ain't No Such Thing as a Free Lunch TINA = There is no Alternative TER = Total Expense Ratio ER = Expense Ratio TEV = Total Enterprise Value EV = Enterprise Value NAV = Net Asset Value ATM = At the Money ITM = In the Money OTM = Out of the Money BSM = Black Scholes Merton APT = Arbitrage Price Theory LNG = Liquid Natural Gas WTI = West Texas Intermediate BOE = Barrel of Oil Equivalent MLP = Master Limited Partnership E&P = Exploration and Production
Edited
YTM is not yield to best
Good catch, thanks man!
that was an amazing explanation sir. actually put a lot of content in front of me. thank you
Of course bud! That's literally what WSO is for, glad it was useful.
u forgot LIGMA
Added to above
EMEA is Europe + Middle East + Africa .... not Asia
how do i inject these terms into my veins?
Elon’s neural link will soon enough
lol, idk, if the "guidance" vs "execution" looks anything like the rest of his projects, we may all be dead first. Jokes aside, reality is, as you get into workplace and, so long as you continue to invest time outside the office reading industry publications/books/periodicals/etc... when you can, you'll just pick more and more information up; over time, with repetition, you'll retain more and more as you start to connect the dots w.r.t how the discrete constituent parts fit together and drive the "wheels of the financial system". Till then, be curious, work hard, ask questions, and don't be afraid to be wrong (try your absolute fucking best to be right, but don't obsess over your missteps, the happen to everyone - so long as you take in it stride and don't repeat the same errs, it will actually serve to earn your colleagues' respect, trust and admiration/endearment); if you can do those things and have a little luck/good timing along the way, you'll be hard-pressed not to find yourself having a great career.
I think you missed ETC for commodities. Also ETI. It's an odd term that basically covers any ETP that falls into the "none of the above" for the mentioned categories.
Would you also consider adding DTCC? I can't really describe what they do without going WAY down the US market structure rabbit hole.
Sure no problem, ETI stands for what exactly ? There are multiple answers so just need to make sure I'm correct
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