Understanding these career terms

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?

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Comments (27)

Most Helpful
  • Intern in IB-M&A
May 16, 2020 - 12:33pm

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 !

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May 16, 2020 - 1:31pm

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

"In order to be a really good investor, you need to be a little bit of a philosopher as well." -Dan Loeb

 

  • 5
  • 1
May 17, 2020 - 12:01pm

Good catch, thanks man!

"In order to be a really good investor, you need to be a little bit of a philosopher as well." -Dan Loeb

 

May 16, 2020 - 2:33pm

Added to above

"In order to be a really good investor, you need to be a little bit of a philosopher as well." -Dan Loeb

 

  • 3
May 16, 2020 - 4:25pm

EMEA is Europe + Middle East + Africa .... not Asia

Array
  • 1
May 17, 2020 - 12:12pm

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.

"In order to be a really good investor, you need to be a little bit of a philosopher as well." -Dan Loeb

 

  • 5
May 17, 2020 - 1:15pm

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.

I generally see somebody I know on TV on Bloomberg/CNBC etc. once or twice a week. This sounds cool, until I remind myself that I see somebody I know on ESPN five days a week.
  • 1
May 17, 2020 - 4:49pm
I generally see somebody I know on TV on Bloomberg/CNBC etc. once or twice a week. This sounds cool, until I remind myself that I see somebody I know on ESPN five days a week.
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