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FINANCIAL
GLOSSARY : N
Names (Lloyds)
Names are wealthy
individuals (with at least £250,000 of liquid assets) who have
traditionally supported the Lloyds of London insurance market. Names
agree to put their entire wealth on the line should it be necesasary
to meet claims, in return for substantial commissions.
National
Association of Securities Dealers Automated Quotations system (NASDAQ)
NASDAQ is the second
largest equity market in the USA and lists thousands of US and foreign
companies. In recent years it has attracted a lot of high technology
companies. The Stock Exchange Market offers electronic trading using
computers and a vast telecommunications network.
National
Savings Certificates
A range of tax-free
investments from the government that pay a guaranteed return. An attractive
investment for taxpayers, especially those paying at the higher level.
National
Savings Stock Register (NSSR)
The facility to
buy gilts over the Post Office Counter.
Net asset
value (NAV)
The Net Asset Value
of a company is the total value of all its assets less its liabilities.
Negative
equity
Negative equity
refers to a situation when the value of your property falls below the
figure of the mortgage/loan taken out to buy it.
Net yield
The annual return
on an investment after tax.
New issue
Shares that are
offered to the general public on the Stock Exchange for the first time.
New York
Stock Exchange (NYSE)
The largest and
oldest Stock Exchange in the US, located on Wall Street in New York.
Nominal
value
The value of the
security when it is first issued, also known as the par value.
Nominee
account
Nominee accounts
are set up by stockbrokers and are used for the purpose of administering
assets held on behalf of their clients. Nominee accounts have become
widespread since the introduction of the CREST system for share settlement.
