what is a specialist in the stock market
London Stock Exchange


the issue of specialist debt securities or depositary receipts (DRs) to professional investors. The market operates under the status as a Recognised Investment Exchange, and by July 2011 it had 32 DRs, 108 Eurobonds and over 350 Medium Term Notes. Specialist Fund Market Is London Stock Exchange's dedicated market, designed to accept more sophisticated fund vehicles, governance models and security. It is suitable only for institutional, professional and highly knowledgeable investors. The Specialist Fund Market is an EU Regulated Market and thus securities admitted to the market are
19868988
Day trading


NYSE specialist. A market maker has an inventory of stocks to buy and sell, and simultaneously offers to buy and sell the same stock. Obviously, it will offer to sell stock at a higher price than the price at which it offers to buy. This difference is known as the "spread". The market maker is indifferent as to whether the stock goes up or down, it simply tries to constantly buy for less than it sells. A persistent trend in one direction will result in a loss for the market
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Market maker


Makers, formerly known as "specialists", who act as the official market maker for a given security. The market makers provide a required amount of liquidity to the security's market, and take the other side of trades when there are short-term buy-and-sell-side imbalances in customer orders. In return, the specialist is granted various informational and trade execution advantages. Other U.S. exchanges, most prominently the NASDAQ Stock Exchange, employ several competing official market makers in a security. These market makers are
6732756
Day trading


These specialists would each make markets in only a handful of stocks. The specialist would match the purchaser with another broker's seller; write up physical tickets that, once processed, would effectively transfer the stock; and relay the information back to both brokers. Before 1975, brokerage commissions were fixed at 1% of the amount of the trade, i.e. to purchase $10,000 worth of stock cost the buyer $100 in commissions and same 1% to sell. Meaning that to profit trades had to make "over" 2
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Market maker


required to maintain two-sided markets during exchange hours and are obligated to buy and sell at their displayed bids and offers. They typically do not receive the trading advantages a specialist does, but they do get some, such as the ability to naked short a stock, i.e., selling it without borrowing it. In most situations, only official market makers are permitted to engage in naked shorting. Recent changes to the rules have explicitly banned naked shorting by options market makers. In liquid markets like the New York Stock Exchange
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Open outcry


a group around the post on the floor of the market for the specialist, someone that works for one of the NYSE member firms and handles the stock. As in an auction, there are shouts from those that want to sell and those that want to buy. The specialist facilitates in the match and centralizing the trades. On 24 January 2007, the NYSE went from being strictly an auction market to a hybrid market that encompassed both the auction method and an electronic trading method that immediately makes the trade electronically. A small
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Trading halt


in a security" exist. (The NASDAQ stock exchange does not implement non-regulatory trading halts.) Before trading resumes, market specialists must determine an appropriate price range in which the security can trade. Unlike regulatory halts, other U.S. exchanges do not always stop trading a security affected by the non-regulatory halt. NASDAQ OMX (owner of the NASDAQ stock market) displays current trading halts for the NASDAQ, New York Stock Exchange, and the American Stock Exchange, along with a rolling 21-day history. The OTCBB
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Securities Exchange Act of 1934


place where securities (stocks, bonds, notes of debenture) are exchanged. Here, agents of the exchange, or specialists, act as middlemen for the competing interests in the buying and selling of securities. An important function of the specialist is to inject liquidity and price continuity into the market. Some of the more well known exchanges include the New York Stock Exchange, the NASDAQ and the NYSE American. The '34 Act also regulates broker-dealers without a status for trading securities. A telecommunications infrastructure has developed to
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Stock valuation


view of fundamental analysis, stock valuation based on fundamentals aims to give an estimate of the intrinsic value of a stock, based on predictions of the future cash flows and profitability of the business. Fundamental analysis may be replaced or augmented by market criteria – what the market will pay for the stock, disregarding intrinsic value. These can be combined as "predictions of future cash flows/profits (fundamental)", together with "what will the market pay for these profits?" These can be seen as "supply and
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Stock market simulator


commodities list or market exchange, such as movies or television shows. Some simulators focus on sports and have been linked to active betting and wager based systems. Most of the online stock simulators run on either C, C#, Java, JavaScript, ASP or PHP with a MySQL or PostgreSQL database. Some of them are open source, and others are proprietary with the code being sold as valuable prediction market software. Such is the example with the HSX Virtual Specialist. This technology has been sold to major film studios such
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Stock market prediction


of a stock, such as the P/E ratio. Warren Buffett is perhaps the most famous of all Fundamental Analysts. What fundamental analysis in stock market is trying to achieve, is finding out the true value of a stock, which then can be compared with the value it is being traded with on stock markets and therefore finding out whether the stock on the market is undervalued or not. Finding out the true value can be done by various methods with basically the same principle. The principle being that a company is
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Planogram


companies like ACNielsen collect sales data for various products and calculate market share of products in various market segments. Margin placement is determined by the profit margin of a specific item. Higher margin places a product closer to the front of the store, where it is most likely to attract attention. The planogram concept originated with KMart. Planograms are created with the help of planogramming software by a Planogram Specialist, Space Planning Specialist or Space Planning Manager. The retail industry utilizes software to ensure proper stocking. Retailers turn to planogram software to
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Euronext


ESM), an equity market designed for growth companies; the Global Exchange Market (GEM), a specialist debt market for professional investors and the Atlantic Securities Market (ASM), a market dedicated to companies who wish to dual list in Ireland and the United States. There are currently 50 companies with shares listed on the markets of the Irish Stock Exchange. There are three markets on which for companies to list equities on the ISE: The ISE offers domestic and international membership for trading in shares, ETFs, Irish Government
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Algorithmic trading


which executed them manually. The "opening automated reporting system" (OARS) aided the specialist in determining the market clearing opening price (SOR; Smart Order Routing). Program trading is defined by the New York Stock Exchange as an order to buy or sell 15 or more stocks valued at over US$1 million total. In practice this means that all program trades are entered with the aid of a computer. In the 1980s, program trading became widely used in trading between the S&P 500 equity and futures markets. In
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Tech Buzz


Tech Buzz Game is a fantasy stock market simulation run by Yahoo! Research and O'Reilly Media. It is a dynamic pari-mutuel market, where almost 16,000 players predict what people will be searching the Internet for in the future. More specifically, what Tech Buzz Game Stocks people will be searching for using Yahoo! Search. You buy stock in technologies you believe will be popular, and do the opposite for stocks you predict will have the opposite result. This is a general overview of the rules; for more information,
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London Stock Exchange


currently 2,600 companies from over 60 countries listed on London Stock Exchange, of which 1151 are on AIM, 44 on the Professional Securities Market and 10 on the Specialist Funds Market. Pence sterling (GBX) is a subdivision of Pounds sterling (GBP). Pounds sterling are the UK's major currency unit, but pence are often used when quoting prices; e.g. a quoted price of GBX 2,360 is equivalent to £23.60. , the AIM had 56 companies as per country of operations from Africa, 41 from China, 26
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New York Stock Exchange


– 4:00 pm ET, with the exception of holidays declared by the Exchange in advance. The NYSE trades in a continuous auction format, where traders can execute stock transactions on behalf of investors. They will gather around the appropriate post where a specialist broker, who is employed by a NYSE member firm (that is, he/she is not an employee of the New York Stock Exchange), acts as an auctioneer in an open outcry auction market environment to bring buyers and sellers together and to manage the actual auction.
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2011–12 Fenerbahçe S.K. season


, after the declaration of TFF on 15 August, Fenerbahçe gained 49 percent more value per unit share in the stock market. Capital Markets Board of Turkey (SPK) and Istanbul Stock Exchange (İMKB) immediately launched an investigation to see if there had been any manipulation or insider trading behind this unprecedented volatility in the shares. SPK and İMKB specialists were also in contact with İstanbul Prosecutor's office and İstanbul Police Department OCCB. On 22 August 2011, it was the first time in history that UEFA had sent Chief Inspector of
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Cede and Company


Cede and Company, also known as "Cede and Co." or "Cede & Co.", is a specialist United States financial institution that processes transfers of stock certificates on behalf of Depository Trust Company, the central securities depository used by the United States National Market System, which includes the New York Stock Exchange, Nasdaq, and other exchanges together with associated clearinghouses such as NSCC, FICC, DTCC, and others. Cede technically owns substantially all of the publicly issued stock in the United States. Thus, investors do not
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Financial market


A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Securities include stocks and bonds, and precious metals. The term "market" is sometimes used for what are more strictly "exchanges", organizations that facilitate the trade in financial securities, e.g., a stock exchange or commodity exchange. This may be a physical location (such as the NYSE, LSE, JSE, BSE) or an electronic system (such as NASDAQ). Much trading of stocks takes place on an
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Stock valuation


demand" sides – what underlies the supply (of stock), and what drives the (market) demand for stock? In the view of John Maynard Keynes, stock valuation is not a "prediction" but a "convention," which serves to facilitate investment and ensure that stocks are liquid, despite being underpinned by an illiquid business and its illiquid investments, such as factories. The most theoretically sound stock valuation method, called income valuation or the discounted cash flow (DCF) method, involves discounting of the profits
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Random walk hypothesis


that contradicts the random walk hypothesis, was finding stocks that have had an upward revision for earnings outperform other stocks in the following six months. With this knowledge, investors can have an edge in predicting what stocks to pull out of the market and which stocks — the stocks with the upward revision — to leave in. Martin Weber’s studies detract from the random walk hypothesis, because according to Weber, there are trends and other tips to predicting the stock market. Professors Andrew W. Lo and Archie Craig MacKinlay, professors of
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Stock market bubble


1980s. Stock market bubbles frequently produce hot markets in initial public offerings, since investment bankers and their clients see opportunities to float new stock issues at inflated prices. These hot IPO markets misallocate investment funds to areas dictated by speculative trends, rather than to enterprises generating longstanding economic value. Typically when there is an over abundance of IPOs in a bubble market, a large portion of the IPO companies fail completely, never achieve what is promised to the investors, or can even be vehicles for fraud. Emotional and cognitive biases (
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Market timing


last for many years before prices collapse. Likewise, a crash can persist for extended periods; stocks that appear to be "cheap" at a glance, can often become much "cheaper" afterwards, before then either rebounding at some time in the future or heading toward bankruptcy. Proponents of market timing counter that market timing is just another name for trading. They argue that "attempting to predict future market price movements" is what all traders do, regardless of whether they trade individual stocks or collections of stocks, aka
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Kennedy Slide of 1962


stating that his funds had recently purchased $20 million worth of stock. With the backing of successful investors, the public's fears had temporarily subsided, and the stock markets rallied heavily in what became the greatest single day rally since the end of World War II. Although it seemed like recovery was imminent, the stock market continued to be volatile throughout the month of June. A stable rise did not occur until the end of the Cuban Missile Crisis in October. This stock market shock was significant, but it had little
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Popular Science Predictions Exchange


Popular Science Predictions Exchange (PPX) was an online virtual prediction market run as part of the "Popular Science" website. The application was designed by the same group behind the Hollywood Stock Exchange using their virtual specialist application. Users traded virtual currency, known as POP$, based on the likelihood of a certain event being realized by a given date. Stock prices would range between POP$0 and POP$100 and were intended to reflect the general confidence of the users about that event. A stock at price POP$95 would mean roughly that users
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Instinet


or intervening specialists. Through the Instinet system, which went live in December 1969, the company provided computer services and a communications network for the automated buying and selling of equity securities on an anonymous, confidential basis. Uptake of the platform was slow through the 1970s, and in 1983 Instinet turned to William A. "Bill" Lupien, a former Pacific Stock Exchange specialist, to run the company. Lupien decided to market the system more aggressively to the broker community, rather than focus exclusively on the buyside as his predecessors had
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Expected value of perfect information


$900. If the market stays even the stock investment will earn $300 and the mutual fund will earn $600. If the market decreases the stock investment will lose $800 and the mutual fund will lose $200. The certificate of deposit will earn $500 independent of the market's fluctuation. Question: What is the expected value of perfect information? Solution: Here the payoff matrix is: The probability vector is: Expectation for each vehicle (formula_11): The maximum of these expectations is the stock vehicle
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Enron


that Enron would rule the market. They continued to buy or retain their stock as the equity value decreased. As October ended, the stock had decreased to $15. Many considered this a great opportunity to buy Enron stock because of what Lay had been telling them in the media. Lay was accused of selling more than $70 million worth of stock at this time, which he used to repay cash advances on lines of credit. He sold another $29 million worth of stock in the open market. Also,
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Nifty Fifty


In the United States, the term Nifty Fifty was an informal designation for fifty popular large-cap stocks on the New York Stock Exchange in the 1960s and 1970s that were widely regarded as solid buy and hold growth stocks, or "Blue-chip" stocks. These fifty stocks are credited by historians with propelling the bull market of the early 1970s, while their subsequent crash and underperformance through the early 1980s are an example of what may occur following a period during which many investors, influenced by a positive market sentiment,
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Value-form


gauge". The financial community and the political class try to do their best to maintain the stability of society, but they cannot fully control what all the people and all the markets are going to do. For example, a majority of Brits unexpectedly voted for a Brexit, throwing a spanner in the works. After 28 January 2018, about $4 trillion worth of stock value in stock markets disappeared in little more than a week, although the stock markets subsequently recovered. For well-insured rich people, it
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Wincanton plc


Wincanton plc is a British provider of logistics with its origins in milk haulage. The company provides transport and logistics services including specialist automated high bay, high capacity warehouses, and supply chain management for businesses. It also provides container transportation and storage, warehousing solutions and related services, such as health and safety, IT services and people transition to numerous industries. Wincanton's specialist markets include retail, consumer goods, construction, dairy, defence, industrial, fuels and energy. It is listed on the London Stock Exchange, and
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SuperDot


SuperDot was the electronic system used by the New York Stock Exchange to route market orders and limit orders from investors or their agents to a specialist located on the floor of the exchange. SuperDot was the upgraded form of the previous electronic system used to route orders, known as the Designated Order Turnaround (DOT) system. Since 1976, most of the orders in NYSE had been transmitting electronically to specialists screens over the DOT or via the upgraded SuperDot. In 2009, SuperDOT was replaced by the new NYSE Super Display Book system
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Van der Moolen


. At one point, Van der Moolen USA’s specialist book had represented 15% of the NYSE listed common stocks and accounted 11% of the NYSE's volume. Regulatory changes which slashed margins for market makers and allowed a flood of new competition for trading volume significantly impaired the profitability of this VDM unit. Previously in 2003, Van der Moolen Specialists became subject to an investigation by the SEC on allegations of front running. In 2004, Van der Moolen reached a settlement with the SEC and paid a fine of $57.7
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Kent Reliance


its business by private equity firm JC Flowers. OneSavings Bank plc is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. It is a specialist lending and retail savings group authorised by the Prudential Regulation Authority, part of the Bank of England, and regulated by the Financial Conduct Authority and Prudential Regulation Authority. It operates through specialist brokers and independent financial advisors in sub-sectors of the lending market. These sub-sectors include Residential Mortgages (comprising first charge, second charge and shared ownership)
8515069
Floristry


florists: local growers, local wholesalers and flower auctions. The majority of these are supplied by specialist horticultural and cut flower suppliers. Internationally there are hundreds of wholesale flower markets and auctions, the largest of which is located in Aalsmeer, the Netherlands: the Bloemenveiling Aalsmeer. Other major markets include the fledgling Dubai Flower Centre and the Ota Flower Market in Tokyo, Japan. Within North America, Miami is considered to be the main distribution point for imported fresh flowers. Many local wholesalers purchase fresh flower stock from importers in Miami
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Brick Lane Market


cafe. It is a vintage clothing and accessories store that specializes in antiques and homeware, with all stock dating back between the Victoria Era and the 1950s. The venue is also available to hire for parties. The Vintage Market is composed of stalls owned by British and European vintage specialists and offering old clothes ranging from the early 1920s to the 1990s. Also offered are accessories, vintage records, and a random collection of unique old trinkets. The Vintage Market is open on Sundays from 10 a.m. to 5 p.m., and on
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Eltek


Eltek is a global electric power conversion specialist that develops and markets systems for telecommunications and industrial applications. The company is based in Drammen, Norway. As of 2018 it has approximately 2000 employees, with offices in 40 countries, The company dates back to 1970. In 1998 it was listed on the Oslo Stock Exchange. under the name Eltek ASA. In 2007 the company bought the Texas-based Valere Power. In 2015, Eltek ASA was acquired by Delta Electronics, was delisted from the Oslo Stock Exchange, and changed
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Investec


Investec is an international specialist banking and asset management group. It provides a range of financial products and services to a client base in three principal markets: the UK and Europe, Southern Africa, and Asia-Pacific. Investec is dual listed on the London Stock Exchange and the Johannesburg Stock Exchange. It is a constituent of the FTSE 250 index. Investec was founded as a small leasing and financing company in 1974 in Johannesburg, South Africa by Larry Nestadt, Errol Grolman and Ian Kantor. It has expanded through a combination
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Rate of return


capital. For example, investments in company stock shares put capital at risk. Unlike capital invested in a savings account, the share price, which is the market value of a stock share at a certain point in time, depends on what someone is willing to pay for it, and the price of a stock share tends to change continually when the market for that share is open. If the price is relatively stable, the stock is said to have "low volatility". If the price often changes a great deal
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Getty Images


had built up the stock photography industry, from small family-run firms to larger agencies. By 1999 it had acquired one of the largest agencies, Tony Stone Images; the online art seller Art.com; the sports photography agency Allsport; the market leader in the Benelux and Scandinavia: Word View (1996, from Mr. Bert Blokhuis, four offices, for undisclosed sum); journalistic specialists Liaison Agency; Newsmakers the first digital news photo agency; Online USA, a specialist in celebrity shots; and the Hulton Press Library,
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Market portfolio


to would be the world market. There is some question of whether what is used for the market portfolio really matters. Some authors say that it does not make a big difference; you can use any old index and get similar results. Roll gave an example where different indexes produce much different results, and that by choosing the index you can get any ranking you want. Brown and Brown examine this, using different indexes such as stocks only, stocks and bonds, and stocks plus bonds plus real estate. They find
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Colombia Stock Exchange


the share trading market of Colombia during the 1970s. Despite these problems and the original stock exchange losing its original mission of being a vehicle for the trading of shares, its executives pursued the improving of the credibility of Bolsa de Bogota by concentrating in the operations between potential investors and shareholders. During 2001 it became necessary to merge the three regional stock exchanges into what it is known today as Bolsa de Valores of Colombia (Stock Exchange of Colombia). Another highlight was the start-up of the Integrated Latin American Market (
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Bucket shop (stock market)


amplified gains, but trading in a bucket shop exposes traders to small market manipulations due to the shop's agency. In a form of what is now considered illegal front running and self-dealing, a bucket shop holding a large position on a stock, and knowing a client's vulnerable margin, might sell the stock on the real stock exchange, causing the price on the ticker tape to momentarily move down enough to exhaust the client's margins. Through its opportunistic actions, the bucket shop thereby gains 100% of the
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Stock option expensing


the absence of market prices, fair value is estimated using a valuation technique to estimate what the price of those equity instruments would have been on the measurement date in an arm's length transaction between knowledgeable, willing parties. The standard does not specify which particular model should be used. As an alternative to stock warrants, companies may compensate their employees with stock appreciation rights (SARs). A single SAR is a right to be paid the amount by which the market price of one share of stock increases after a period of
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Cayman Islands Stock Exchange


George Town. The exchange uses a fully electronic trading platform that was developed under a partnership with Bloomberg L.P. The CSX was originally set up to provide a listing facility for the specialist products of the Cayman Islands – mutual funds and specialist debt securities. The CSX's capabilities now extend to sophisticated vehicles and structures including the listing of derivative warrants, depositary receipts, Eurobonds, preferred shares and international equity. The CSX currently has more than 1,400 listings and a market capitalisation of more than $123 billion. Other key facts and recognitions
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Westminster Group


and Defence business. In 2006, Westminster Group Plc. purchased RMS Integrated Solutions ltd, specialists in distributed low-voltage systems; the company then listed on the AIM Market of the London Stock Exchange (WSG) in June 2007. In 2009 Westminster Group purchased Longmoor Group, the Close Protection and Security Training Services Group. Westminster Group Plc has four subsidiary companies: Westminster International ltd, RMS Integrated Solutions ltd, Longmoor Group and Westminster Security Systems. This subsidiary has a broad-based security systems specialist that deals with providing
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Economy of Iceland


of the market, trading is illiquid in comparison with larger markets. A variety of firms across all sectors of the Icelandic economy are listed on the ICEX. The most important stock market index was the ICEX 15; however, this index was discontinued in the wake of the financial crisis following a decade in which it had been the worst-performing stock market index in the entire world. Historically, investors tended to be reluctant to hold Icelandic bonds because of the persistence of high inflation and the volatility of the Króna. What
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Leslie C. Quick Jr.


Leslie C. Quick Jr. (January 27, 1926 – March 8, 2001) was co-founder of Quick & Reilly. He graduated from Widener University. In 1974 he co-founded Quick & Reilly, the first New York Stock Exchange member firm to offer discounted commissions to individuals. It is one of the nation's leading brokerage firms, expanding the business to include one of the largest specialist firms on the New York Stock Exchange, a major clearing and execution firm, and a NASDAQ market maker. Quick's family
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8 mm film


mm by re-perforating the stock, cutting it into 25 foot (7.6 m) lengths, and collecting it into special standard 8 mm spools, which they then sell. Re-perforation requires special equipment. Some specialists also produce Super 8 mm film from existing 16 mm, or even 35 mm film stock. When Eastman Kodak first conceived the 8 mm format, no provision was made for the addition of a sound track. Nevertheless, in the 1960s, projectors appeared on the market that were capable of recording and
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LaBranche & Co


LaBranche & Co. Inc. () was a market maker and specialist firm on the NYSE, one of the oldest in the business at the time of its acquisition. It also operated in options, futures, and ETFs through various subsidiaries. Its stock symbol on the NYSE was LAB. LaBranche & Co. said it signed a definitive agreement to sell its NYSE Designated Market Maker business to Barclays Capital for $25 million. On June 29, 2011, Cowen Group completed its acquisition of LaBranche, ending the firm's independent existence.
8577320
Options strategy


for a period of time. The stock market is much more than ups and downs, buying, selling, calls, and puts. Options give the trader flexibility to really make a change and career out of what some call a dangerous or rigid market or profession. Think of options as the building blocks of strategies for the market. Options have been around since the market started, they just did not have their own spotlight until recently. Bearish options strategies are employed when the options trader expects the underlying stock price to move
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Martin Zweig


of all time," recommending that people read the 1923 Edwin Lefèvre book "Reminiscences of a Stock Operator". Zweig appeared regularly on PBS television's "Wall $treet Week with Louis Rukeyser", and in 1992 he was voted into the program's Hall of Fame. It was on that very program that he stated on 16 October 1987, that he was deeply worried and did not like what he saw in the stock market. The 1987 stock market crash precipitated on 19 October 1987. At the time of his
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Andrew Mellon


discount rate to six percent. The higher rate failed to curb speculation, and the activity on the stock market continued to grow. In October 1929, the New York Stock Exchange suffered the worst crash in its history in what was called "Black Tuesday". As the vast majority of Americans did not own shares in the stock market, the crash did not immediately have disastrous effects on the U.S. economy as a whole. Mellon had little sympathy for the speculators who lost their money, and he was philosophically opposed to an
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Corporate services


associated with business practice. Some basic services include: Market research for investment along with risk evaluation is another corporate service designed to help clients make financial decisions. Intellectual property protection is seen as an investment, this is a service some consultancies may also advise on. Similarly, stock exchange services can bring about specialist reports on past, current and forecasted stock exchange trends, with a personalised analysis. Where local Corporate Service Providers (CSPs) offer bundled basic services to support tax residency tests such as "central management and control"
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Synergy Health


Synergy Health plc () was a global company headquartered in the United Kingdom. The company provides specialist outsourced services to the healthcare and related markets around the world, including sterilization services for medical device and other manufacturers, decontamination of surgical instruments for hospitals and other medical practitioners together with related hygiene services. The company was listed on the London Stock Exchange until it was acquired by Steris Corporation in October 2015. Synergy was founded in 1991 as a manufacturer of surgical packs in Corby, Northamptonshire, listing on the Alternative Investment Market in
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Paul Jorion


year, he made a wager that psychoanalysis will turn out to offer Artificial Intelligence its genuine theoretical framework. His interest in behavioral theory has led Jorion to work on stock market behavior as a pricing specialist and, for a period, as a trader on the futures markets in a French investment bank. Despite, or because of, his work Jorion has become a critic of the structure of financial capitalism. He has deplored in particular the shift in accounting standards from a definition of price based on "fundamentals," i.e. "
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Clive Farahar


become acquainted with the stock. In 1972 Farahar joined the staff of a bookshop in Culham, between Abingdon and Oxford, before becoming a market trader at Bath Antiques Market where he sold books during the week and worked as a wine waiter at weekends in order to make ends meet. In the summer of 1976 he met his wife, Sophie Dupré, the manuscript specialist, and in 1979 he became a partner in Francis Edwards in London where he took responsibility for a new book investment scheme. However, the venture failed and
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Bill Lupien


William A. Lupien (born October 6, 1941) is an American business executive in the financial industry. He traded actively in the financial markets throughout his career. He was a Specialist and later Exchange Governor on the Pacific Stock Exchange (PSE), a Nasdaq market maker, the Chairman and CEO of Instinet, the Chairman and CEO of OptiMark Corporation, and the Managing Director of the General Partner of a hedge fund, Kudu Partners LP. He helped develop the world's first electronic trading system. He also served on
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Jean-François Théodore


Stock Exchange to its group, and became the first pan-European exchange, present in 5 countries. Consolidation in Europe was followed by efforts in formation of the first trans-Atlantic securities market with NYSE, which became known as NYSE Euronext. This was announced in 2006 and came to fruition in 2007. In 2009 he retired from his post an Euronext, but continued to guide the exchange through strategic mergers and acquisitions. His colleagues, financial market specialists and press noted that his efforts and achievements were not so much for
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Terra (company)


online multiplayer gaming platform (Terra Games) and a digital music service (Terra Música Premium) similar to Apple Computer's iTunes. In April 2000, Terra surprised the Internet market with the acquisition of Lycos, the U.S. portal, in a stock swap valued at US$12.5 billion. By that time, Lycos was the third most visited portal in the U.S., according to Nielsen//NetRatings, and had a strong presence in key European and Asian markets. Specialists expected that the combination of Lycos with Terra's dominance in Latin America would
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Growthgate


Growthgate Capital Corporation BSC (c) (or Growthgate Capital) is a specialist buyout firm engaged in direct equity investments focused on middle-market companies in the Gulf Cooperation Council (GCC) and other select markets of the wider MENA region. Growthgate Capital was incorporated as a closed joint stock company in the Kingdom of Bahrain in 2007. The founding shareholders of Growthgate Capital include State-owned banks, public pension funds, investment companies, single-family offices and a group of corporate leaders from the Middle East region. Karim
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Playmobil


period, with the non-export markets getting new sets first, then the export markets receiving them a year later. This is done so that Playmobil will only have to make one very expensive mold for each new piece, and still be able to manufacture the initial stock of the new set. This first stock is what initially stocks store shelves; afterwards Playmobil makes smaller quantities to refill shelves in accordance with demand. In order to produce enough sets to release them to the entire world at the same time, Playmobil would
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Efficient-market hypothesis


Early examples include the observation that small neglected stocks and stocks with high book-to-market (low price-to-book) ratios (value stocks) tended to achieve abnormally high returns relative to what could be explained by the CAPM. Further tests of portfolio efficiency by Gibbons, Ross and Shanken (1989) (GJR) led to rejections of the CAPM, although tests of efficiency inevitably run into the joint hypothesis problem (see Roll's critique). Following GJR's results and mounting empirical evidence of EMH anomalies
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National Organization for Business and Engineering


includes annual summary of NOBE's operation, discussion panels, speeches of different topics, workshops related to what is going on in today's business and engineering society, the national election and a banquet. See below for a list of all historical National Conferences. Other events held by the National Organization for Business and Engineering included a Stock Market Simulation Game. This is an online stock game with real stock market action, but virtual capital. Any member from NOBE can play this game and the competition is among all the chapters.
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George W. Stocking Sr.


issues that had lasting effects on antitrust enforcement. Perhaps Stocking's best-known journal article was a 1955 article in the "American Economic Review" that addressed what is now known as the "Cellophane Paradox." In research on the DuPont company arising from his student's (Willard F. Mueller) Ph. D. dissertation, Stocking and Mueller pointed out the error of mistaking a monopolist's inability to exercise market power by raising price above the current price for an inability to have already exercised market power by raising price significantly above
13629513
Options strategy


high the stock price can go and the time frame in which the rally will occur in order to select the optimum trading strategy for just buying a bullish option. The most bullish of options trading strategies is simply buying a call option used by most options traders. The stock market is always moving somewhere or some how. It's up to the stock trader to figure what strategy fits the markets for that time period. Moderately bullish options traders usually set a target price for the bull run and utilize bull spreads to reduce cost
1973663
Jeremy Siegel


small-cap index in nearly four out five cases. Others disagree. Some have criticized Professor Siegel for being bullish on the stock market back in 2000. In a "BusinessWeek" interview in May 2000 when asked about the stock market, he replied: "Seven percent per year [average] real returns on stocks is what I find over nearly two centuries. I don't see persuasive reasons why it should be any different from that over the intermediate run. In the short run, it could be almost anything.
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Hunger marketing


caution, but with feeling or emotion. Because people get attracted by many stimuli, they make decisions without being careful. Also, it means that they are lacking of information of alternatives, time to search or calculate, and reasonable thinking. This is exactly what many businesses try to make people, spending more money without rationality. Three representative techniques of hunger marketing are described below; Limited stock, time limit and special discounts. Limited stock is the most representative technique of hunger marketing. It is also one of the strongest
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Retirement


exactly the same conditions between 1975 and 2003), the chance of making the funds last for 30 years depended heavily on what happened to the stock market in the first few years. Those contemplating early retirement will want to know if they have enough to survive possible bear markets such as the one that would cause the hypothetical 1973 retiree's fund to be exhausted after only 20 years. The history of the US stock market shows that one would need to live on about 4% of the initial portfolio per year to ensure that
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Informatics General


percent of its stock was still held by Dataproducts. At that time Informatics had revenues of $4.5 million and a net income of $171,000, and the number of employees was around 300. By 1967 Informatics had something like 3–4 percent of the total market for custom-built software. During the mid-1960s the U.S. stock market went through what was known as the "go-go market" boom, and computer companies become special darlings of traders. Informatics was no exception; its price–earnings ratio rose from 25 at
7993397
Lee International


the Panavision purchase world stock markets suffered what is now known as Black Monday, where stock markets crashed on 19 October 1987, throughout the world. The following global financial crisis put paid to plans for Westward Communications seeking a public listing on the New York Stock Exchange within 18 months of the deal. Secondly, 1988 saw the Writers Guild of America went on strike for close on 22 weeks, from 7 March through 7 August. The strike affected the making of many American television series and to a lesser extent Hollywood movie production
8551982
Advance–decline line


trading day and the performance of the market during this day. Though the market indices give an idea about what has happened during the trading day, advance/decline numbers give an idea about the individual performance of particular stocks. The advance–decline line is a plot of the cumulative sum of the daily difference between the number of issues advancing and the number of issues declining in a particular stock market index. Thus it moves up when the index contains more advancing than declining issues, and moves down when there are more declining
9634792
The Social Construction of Reality


sophistication, a civilization's culture contains more and more sections of knowledge specific to given roles or tasks, sections which become more and more esoteric to non-specialists. These areas of knowledge do not belong anymore to the "common" social world and culture. “A society’s stock of knowledge is structured in terms of what is generally relevant and what is relevant only to specific roles… the social distribution of knowledge entails a dichotomization in terms of general and role-specific relevance… because of the division of labor,
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What Investment


What Investment is a British magazine published monthly by Bonhill Group plc. The magazine was established in 1982. The publication is distributed through branches of W H Smith as well as directly to subscribers. The magazine also has an online presence in the form of a website which provides news for retail investors on funds, stocks, shares, and markets. The online magazine has two weekly newsletters: "What Investment Trader" - which is sent to digital readers on a Monday focussing on direct equity investment, large cap stocks, and
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Black–Scholes model


explain their names): Assumptions on the market: With these assumptions holding, suppose there is a derivative security also trading in this market. We specify that this security will have a certain payoff at a specified date in the future, depending on the value(s) taken by the stock up to that date. It is a surprising fact that the derivative's price is completely determined at the current time, even though we do not know what path the stock price will take in the future. For the special case of a
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Henry Keep (businessman)


Cornelius Vanderbilt, Keep was one of the greatest speculators on the stock market in his day. He also became one of the ablest stock pool managers in the history of the New York Stock Exchange. He was so successful at stock pools that he became one of the first managers of a "blind pool", where not even the contributors to the pool knew which stocks were being bought or sold, when, or at what price. His refusal to talk about his trading schemes earned him the nickname "Henry the Silent
17218546
Rail transport in Great Britain


the Competition Commission, citing, amongst other factors, problems in the DfT's own franchising policy as responsible for what may be regarded as a dysfunctional market. ORR said it will consult the industry and the public on what to do, and will publish its decision in April 2007. If the ORR does refer the market to the Competition Commission, there may well be a hiatus in investment in new rolling stock whilst the ROSCOs and their parent companies wait to hear what return they will be allowed to make on their train fleets
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Cassandra (metaphor)


due to a lack of commitment to the new vision by some individuals in the organization, because it does not match reality as they see it. Those who support the new vision are termed "Cassandras"—able to see what is going to happen, but not believed. Sometimes the name Cassandra is applied to those who can predict rises, falls, and particularly crashes on the global stock market, as happened with Warren Buffett, who repeatedly warned that the 1990s stock market surge was a bubble, attracting to him the title of "
17799397
Value-form


also got into the act with a combined $248 billion of buyouts in the first half of 2018. The global equity market was "shrinking at the fastest pace in at least two decades" although its total value was still increasing, partly due to buybacks pushing up stock prices. The "Financial Times" raised the spectre of the "slow death of public stock markets"': The general effect is, that the true economic value or benefit of what business does, becomes more difficult to know; transparency is lacking
535400
Jefferies Group


started with $30,000 in borrowed capital, which Boyd Jefferies used to purchase a seat on the Pacific Coast Stock Exchange. In the early years, the firm was a successful trader and pioneer in what would be called the "third market", which allowed for the trading of listed stocks directly between institutional investors in an over-the-counter style, providing liquidity and anonymity to buyers. In addition to its third market niche, Jefferies pioneered use of the split commissions in 1964. By 1965, Jefferies had joined the
6611220
Euronext


this. In 1997 the Amsterdam Stock Exchange and the EOE merged, and its blue chip index was renamed AEX, for "Amsterdam EXchange". It is now managed by Euronext Amsterdam. On 3 October 2011, Princess Máxima opened the new trading floor of the Amsterdam Stock Exchange. The former Stock Exchange building was the Beurs van Berlage. Although it is usually considered to be the first stock market, Fernand Braudel argues that this is not precisely true: However, it is the first incarnation of what we could today recognize
19733291
Dan Wagner


packaging electronic information and data for scientists, librarians and other specialists." The company went public on the stock market in 1994 and was renamed to Dialog. It was also listed on NASDAQ in 1995. Wagner became known for becoming a CEO of a public company in his 20s and for presiding over the company's share price decline in the dot-com crash in 2000. Subsequently, it was nicknamed by the city and a number of publications as 'Dial-a-dog'. In 1997, Wagner agreed a
15282571
SThree


SThree plc is an international specialist staffing organisation, founded in the United Kingdom and headquartered in London. It is listed on the London Stock Exchange and is a constituent of the FTSE SmallCap Index. The Company was founded by Bill Bottriell and Simon Arber in 1986 as a specialist recruitment business under the name Computer Futures. In 1999 Barclays provided development finance for the business. It was first listed on the London Stock Exchange in 2005. The Company provides permanent and contract specialist staffing services in the UK and Europe, Americas and AsiaPac
4618312
Stock market simulator


indexes. Stock market games are often used for educational purposes to teach potential stock traders and future stock brokers how to trade stocks. Stock market games can also be used for entertainment purposes and to engage in fantasy trading competitions. Some stock market games are not based on financial markets at all. These virtual stock markets are often based on things like sports or entertainment 'stocks'. Players are asked to invest in a particular sports team for example. If the team is doing well, the stock goes up and if the
21244408
Joint-stock company


. Closely held corporations have some advantages over publicly traded corporations. A small, closely held company can often make company-changing decisions much more rapidly than a publicly traded company, as there will generally be fewer voting shareholders, and the shareholders would have common interests. A publicly traded company is also at the mercy of the market, with capital flow in and out based not only on what the company is doing but also on what the market and even what the competitors, major and minor, are doing. However,
5071137
Asset price channel


new plant equipment is cheap compared to the market value of firms. Under these circumstances, firms can issue stocks and get a high price for it, relatively to what it costs to buy the facilities and equipment that they need. As a result, investment spending will rise and firms buy this new equipment with only a small issue of stocks. Expansionary monetary policy (a lower interest rate) make stocks relatively more attractive than bonds. More demand for stocks will generally tend to drive up their prices. In terms of Tobin
9949347
Technical analysis


to predict stock market prices successfully which would contradict the random walk hypothesis. The random walk index (RWI) is a technical indicator that attempts to determine if a stock’s price movement is random in nature or a result of a statistically significant trend. The random walk index attempts to determine when the market is in a strong uptrend or downtrend by measuring price ranges over N and how it differs from what would be expected by a random walk (randomly going up or down). The greater the range suggests a stronger trend
20339471
Village Voice Media


NTI launched its first website in 1995 and within a year had sites up for all of its publications. The bubble, however, burst in 2000. The stock market took a dive, especially in tech stocks. A recession loomed. The year 2000 would prove to be the apex for NTI's revenue growth. What followed over the next decade was a slow, bumpy decline. Market forces and the increasing power of the Internet slowly began to erode the strength of the alternative press. There were brief signs of life.
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2010 Flash Crash


the 2010 "flash crash", it was reported that high-frequency traders were then less active in the stock market. Another article in the journal said trades by high-frequency traders had decreased to 53% of stock-market trading volume, from 61% in 2009. Former Delaware senator Edward E. Kaufman and Michigan senator Carl Levin published a 2011 op-ed in "The New York Times" a year after the Flash Crash, sharply critical of what they perceived to be the SEC's apparent lack of action
8994637
Print on demand


to change what is necessary. Print-on-demand is also used to print and reprint "niche" books that may have a high retail price but limited sales opportunities, such as specialist academic works. An academic publisher may be expected to keep these specialist titles in print even though the target market is almost saturated, making further conventional print jobs uneconomic. The local history of a small community is well adapted to print-on-demand, as these books are invaluable to libraries, museums and archives in that small
17111910
Manager of managers fund


of specialists, instead of one individual, investing the fund's capital. This means that the role of the manager of managers is to assemble a group of investment experts, closely monitor their performance, and alter the composition of the team to adapt to market conditions or fund performance. For example, the manager of a large pension fund would appoint different investment managers for different asset classes such as equities (stocks), bonds, and commodities. The performance of those managers will then be measured against their respective benchmarks, replacing
14815274
Morgan Advanced Materials


Morgan Advanced Materials () is a global manufacturer of specialist products, using carbon, advanced ceramics and composites for a broad range of markets. The company is headquartered in Windsor, Berkshire, United Kingdom. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The company was founded in Battersea in South London by the six Morgan brothers (viz. William, Thomas, Walter, Edward, Octavius & Septimus) in 1856 as "The Patent Plumbago Syndicate Limited" to make graphite crucibles
17974338
NASDAQ


"OTC" in media reports and also in the monthly Stock Guides (stock guides and procedures) issued by Standard & Poor's Corporation. Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and volume reporting and automated trading systems. It was also the first stock market in the United States to trade online, highlighting Nasdaq-traded companies and closing with the declaration that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq Stock Market attracted new
1764904
Stock illustration


time and spending only what their budgets allow. Stock images (that includes stock photography, vectors, and illustrations) have many perks for businesses and digital market, but the main, most immediate and evident benefits are the time and money savings. Stock illustrations fall into two main categories: royalty free and rights managed. The choice between royalty free or rights managed illustrations depends on buyers' needs. For instance, royalty free illustrations may be used many times with few restrictions and for multiple projects, e.g. annual reports, brochures
741387
Irving Fisher


particularly with the Late-2000s recession. Steve Keen predicted the 2008 recession by using Hyman Minsky's further development of Fisher's work on debt-deflation. Debt-deflation is now the major theory with which Fisher's name is associated. The stock market crash of 1929 and the subsequent Great Depression cost Fisher much of his personal wealth and academic reputation. He famously predicted, nine days before the crash, that stock prices had "reached what looks like a permanently high plateau." Irving Fisher stated on October 21 that the market
16815373
Stainless steel


material of which approximately 40% originates from end-of-life products and about 60% comes from manufacturing processes.. What prevents a higher rectcling content is the availability of stainless steel scrap, in spite of a very high recycling rate. According to the International Resource Panel's Metal Stocks in Society report, the per capita stock of stainless steel in use in society is 80–180 kg in more developed countries and 15 kg in less-developed countries.There is a secondary market that recycles usable scrap for many stainless steel markets
7249481
Competition law


, or of the use of such stock by the voting or granting of proxies or otherwise, may be substantially to lessen competition, or to tend to create a monopoly. What amounts to a substantial lessening of, or significant impediment to competition is usually answered through empirical study. The market shares of the merging companies can be assessed and added, although this kind of analysis only gives rise to presumptions, not conclusions. The Herfindahl-Hirschman Index is used to calculate the "density" of the market, or what concentration
8814135
Hay Mills


Hay Mills in the 1980s, and as a result the company now concentrates on manufacturing a variety of specialist mining ropes for the export market as well as stocking, servicing and trading a wide range of high-quality ropes and attachments for numerous applications. Nationally, Hay Mills is part of the Birmingham, Yardley constituency represented in the House of Commons of the UK Parliament since 2015 by Jess Phillips of the Labour Party. Hay Mills is included in the West Midlands electoral region of the European Parliament, the seven members elected in
1269506
Simon Borrows


its co-chief executive from 2007 to 2010, and the chairman of Greenhill & Co. International from 2010 to 2011. According to "The Independent", he "turned Greenhill, once a small, specialist US-based investment bank, into a major player in Europe's M&A market." Borrows was principal external advisor to 3i, a private equity and venture capital company, from 1994 to 2004. In that capacity, he advised 3i on its listing on the London Stock Exchange in 1994. He became an executive
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