DA
1: Deposit Account
2: Documents against Acceptance
Daily Bond Buyer
A daily municipal industry newspaper that contains news and announcements. The paper basically concentrates on new issues and publishes a variety of municipal industry statistics. These statistics include: Eleven Bond Index, Revenue Bond Index, Twenty Bond Index and Visible Supply.
See: Eleven Bond Index; Visible Supply
Daily Trading Limit
The daily maximum amount that many options and commodities markets are allowed to rise or fall. When a market reaches the upper limit and remains there all day, it is said to be having an up-limit day. Conversely, when a market reaches the lower limit and remains there all day, it is said to be having a down-limit day.
Daisy Chain
Brokerage lingo used to describe a pattern of fictitious trading by a group of persons buying and selling to create the appearance of active volume to entice legitimate investors. The unsuspicious investor drawn into the daisy chain bails out the market manipulators--that is, when these traders drive the price up, they sell their holdings and leave innocent investors without buyers.
Dated Date
The date from which interest begins accruing on new municipal bonds and other debt instruments. The buyer makes a payment to the issuer for the interest accrued from the dated date to the issue's settlement date. On the bond's first interest payment the buyer is reimbursed.
Day Loan
A loan--also known as a "morning loan"--that a bank makes to a broker to purchase securities while it awaits afternoon delivery of the securities. After the securities are delivered and pledged as collateral, the loan becomes a regular broker's call loan.
See: Call Loan; Call Loan Rate
Day Order
Security buy or sell orders that expire at the end of the trading day on which they were entered unless already executed or canceled during the day.
See: Execution; Orders
Day Trade
The purchase and sale of a position in an account during the same trading day. A day trade may also be a short sale followed by a short cover (buy).
See: Selling Short; Short Covering
D & B (Dun and Bradstreet)
Company that provides subscribers with a ratings directory and credit reports of corporations. It also publishes financial composite ratios and offers an accounts receivable collection service. Moody's Investors Service, which rates bonds and commercial paper, is a subsidiary of D & B.
See: Moody's Investors Service; Rating
DBCC (District Business Conduct Committee)
Financial Industry Regulatory Authority (FINRA) committee that has jurisdiction in handling complaints against, or violations by FINRA members within its district.
See: Financial Industry Regulatory Authority
DC
A bond that is a "deep discount issue." The abbreviation "DC" is used in bond listings of newspapers.
See: Deep Discount Bond
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