# Acronym thread



## MRC & Co (3 April 2008)

Hi guys,

I thought it may be a good idea to create a sticky thread in this section which contains the meaning of acronyms. 

I see so many thrown around the forums, either relating to economic terms (IRP, PPP, CPI, GDP etc), trading software (CMC, IB etc), market codes (SPI, DAX, etc) or exchanges (CBOT, SFE etc). Perhaps a thread where everyone can contribute the full name of the acronyms they use and a quick explanation, and then a list can be compiled would be a good idea.  Perhaps when you use an acronym in a thread from now on, come back to this one and write up a quick explanation (if not already included).  This way, it wont take up much of your time as its a do as you go process.

Makes it a lot easier for newbies or even experienced posters to then consult the acronym thread instead of reading posts and confusing the hell out of themselves (such as I do sometimes and as I am sure everyone else around here does at times).

Just a thought.

Cheers


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## happyjack (11 April 2008)

Hi MRC
Most people have google running at the top of their screen and it is a simple matter to google any acronyms and 99% of them are answered, you may say that some people do not run google and the simple answer is they should, as if you put in the share code of any Australian share you will get the ASX website and the company website and more information about the company than any one person could possibly absorb 

happyjack

Of course Yahoo and most other search engines have setups that will fit at the top of the screen. the only one that I have issues with is sensis which appears to censor the output, I have just checked it and it would appear that the worst excesses have been fixed up, (it could not find "google" or other competitors)


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## njc.corp (11 April 2008)

thanks MRC

Nick--


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## disarray (1 May 2008)

CMC - CMC Markets
CPI - Consumer Price Index
EFX - EFX Group
EV - Enterprise Value
EW - Elliot Wave
GDP - Gross Domestic Product
IB - Interactive Brokers
IG - IG Markets
IGV - In Ground Value
IR - Interest Rate
JORC - The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves
MA - Moving Average
MMA - Multiple Moving Averages
PP - Pivot Points
ROI - Return on Investment
RR - Risk / Reward
SMSF - Self Managed Superannuation Fund

some common ones i've come across on ASF


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## bvbfan (2 May 2008)

I'll add a few

IOCG - Iron ore, copper, gold (sometimes IOCGU, uranium)
IRR - Internal rate of return
PPI - Producer price index
PPP - Purchasing power parity
SPI - Share price index


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## Trembling Hand (2 May 2008)

bvbfan said:


> SPI - Share price index




Is that right??


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## >Apocalypto< (4 May 2008)

Trembling Hand said:


> Is that right??




Yeh that's what i have seen as well TH


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## MRC & Co (7 May 2008)

Happy, I realise most people can consult Google and that is fine, it is why I assumed this thread would not kick off, as is the case.  But still worth a look for some of the newbs.  At least they can post questions if they do not understand, unlike if you read google and end up more confused than when you started.  Its hard to find some simple information sometimes out there on the world wide web.

Here are a few I have used lately:

YM - Mini/sized Dow.  The YM trades on CBOT (Chicago Board of Trade) until 5pm Eastern Time and reopens for trading just over 3 hours later at 8:15pm.  The contract months are March (H), June (M), September (U) and December (Z).  THe YM moves in increments of one point, which is worth $5 per contract.  Margin is around $2,000.  This contract trades nearly 24 hours, however traders genearlly focus on the cash market session from 9:30am to 4:15pm.  

ES - E-mini S&P.  The ES trades on CME (Chicargo Mercantile Exchange) until 4:15pm, and reopens 15 minutes later to start the next session.  There is also a shutdown period from 5:30pm to 6pm.  The contract months are the same as the YM.  The ES moves in increments of 0.25 points, which equals $12.50 per contract or $50 for a full point move.  Traders need around $2000 for margin.  Most traders focus on cash hours, which are the same as the YM, despite the ES being open nearly 24 hours.

PPP - as bvb fan has stated, Purchasing Power Parity.  If price discrepancies exist between price level in two different countries, their exchange rates will adjust to ensure prices equal.  I.e.  an increase in relative inflation in one country leads to a decrease in the countries currency.  This is however, theoretical upto a point, as trade barriers, transport costs and differences in taxes can alter prices.  Sometime inflation is not the driver, but the expectation of inflation.

IRP - Interest Rate Parity.  If the interest rate on American bonds falls relative to the interest rate on Australian bonds, then the US currency will depreciate against the Australian dollar.

Both of these can be seen recently, with the US lowering interest rates, causing a depreciation of their dollar, and Australia targeting inflation, causing a relative increase in the Australian dollar (I realise there are more factors in play than these two on the AUD/USD, however this is the basic premise for beginners).


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## disarray (7 May 2008)

use your mod powers to cut and paste all the acronyms into the first post with a title or something. it may grow in time and stop them getting strewn over pages of posts.


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## MRC & Co (7 May 2008)

disarray said:


> use your mod powers to cut and paste all the acronyms into the first post with a title or something. it may grow in time and stop them getting strewn over pages of posts.




I don't have any mod powers 

But that was the idea.  To collect a heap of acronyms and brief descriptions over time and then put them in alphabetical order for an easy checklist.

An example why this thread was created was the one I saw the other day on "Free carrying a stock", something that has been asked numerous times and has to keep being asked, whereas someone could easily come here and check it's meaning if unsure (which I am sure a majority of posters are).  Saves everyone having to sort through internet pages of junk everytime they hear something and do not understand it.

Though, no doubt it will take years to compile a good and comprehensive list here, if everyone chips in a few acronyms with an easy to read description, we will well be on our way.  This is not really for my benefit as I am familiar with most terms now, I just know how hard it is to read the forums at first, having another page open googling and sifting through sites everytime you are reading and an acronym or even a simple trading term pops up.

Thanks for the input Disarray.

Cheers


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## disarray (7 May 2008)

pm joe or something, maybe he can give you rights to manage the thread. i agree with the acronyms thing, i remember not having a clue about most of them when i was starting out and thinking a thread like this would be helpful.


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## Timmy (7 May 2008)

disarray said:


> i agree with the acronyms thing, i remember not having a clue about most of them when i was starting out and thinking a thread like this would be helpful.




I'm with disarray - this thread is a FGI (Good Idea...)

In time it could become a sticky too.


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## wayneL (7 May 2008)

POG - Price Of Gold
POO - Price Of Oil
ATM - (options) At The Money
ITM - In The Money
OTM - Ot of The Money
IV - Implied Volatility
HV or SV - Historical Volatility or Statistical Volatility (same thing)


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## hangseng (7 May 2008)

A few for you to ponder.

PFS - Pre-Feasibility Study (the beginning or the end before it commences depending on outcome) Seeing directors buying at this point is a great sign.

DES - Definitive Engineering Study (you may also see this referred to as DFS)

BFS - Bankable Feasibility Study (get pased this and you are on the money)

EPCM - Engineering Procurement Construction Management (low risk fee based) Boring

EPC - Engineering Procurement Construction (high risk lump sum based) Exciting and dynamic


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## MRC & Co (7 May 2008)

Thanks fellas.

IF you could provide a brief explanation (not just the word behind the acronym), it would be a great help.

Cheers


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## johenmo (19 July 2008)

So what is "ADR form"?  I can find "American Depositary Receipts (ADR) form" but no good explanation


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## MRC & Co (20 July 2008)

johenmo said:


> So what is "ADR form"?  I can find "American Depositary Receipts (ADR) form" but no good explanation




Good one.

I am unsure.  I believe you have the right name behind the acronym, but I cannot explain them well for you.

Anybody else know and can explain?

I think this thread looks dead.  Not really taking off.  

I will add another while I am here:

IB - Interactive Brokers.  This is a trading platform, whereby you can buy and sell a multitude of investment vehicles.  From options, futures, bonds, equities (stocks).  It offers extremelly low commissions, real-time data and a vast array of order types.  The charting is ordinary, so you will need to connect charting software such as amibroker or metastock.  Disarray has a link above.


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## RobinHood (21 July 2008)

www.investopedia.com for anything else... I use it all the time. Its great.


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## bvbfan (24 July 2008)

ADR - Basically a holding Bank buys/holds the underlying stock and issues ADR's at a ratio in the US

So Lihir I think trades as an ADR where an ADR buys equivalent of 10 Lihir shares.

Rio Tinto is at 4 to 1
BHP 2 to 1 

I think you can convert the ADR's to local holdings.

Bank of New York Mellon does a lot of the ADR issues and custodian services

http://www.adrbny.com/home_dr.jsp


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## Spaghetti (14 August 2008)

EBITA = which means we really do not want to tell how much we will lose this year and will leave it to you to figure out.

Earnings before interest, tax and amortisation.


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## andan (5 November 2008)

So "XT" is a crossing code- but what is crossing?


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## wilbur.kay (30 January 2009)

Being new to the forum this is a great idea for a thread which I was going to try to start.  investopedia is a great tip too.


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## MRC & Co (30 January 2009)

wilbur.kay said:


> Being new to the forum this is a great idea for a thread which I was going to try to start.  investopedia is a great tip too.




Yeh, investopedia is fantastic!

I would say this thread is officially dead though.  Never really took off.


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## maxiewawa (16 July 2009)

Sorry, did we all agree that "SPI" was Share Price Index??

Investopedia doesn't have it, and neither does wikipedia.

If it is, which index is it?


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## Timmy (16 July 2009)

maxiewawa said:


> "SPI" was Share Price Index??




Yes it is.





maxiewawa said:


> If it is, which index is it?




S&P/ASX200 is the underlying index

More info here:
http://www.sfe.com.au/content/aboutsfe/brochures/006_spi200.pdf


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## Zaij (28 August 2009)

Not really an acronym, but when people refer to a speeding ticket do they mean a price query?


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## swm79 (28 August 2009)

Zaij said:


> Not really an acronym, but when people refer to a speeding ticket do they mean a price query?




yes, an increase in price query


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## 888 (27 September 2009)

these acronyms are different from the one I learned from world of warcraft...


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## Dreadweave (24 October 2009)

What is PE  or P/E  as being referred to in this post ?https://www.aussiestockforums.com/forums/showpost.php?p=501484&postcount=1


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## So_Cynical (24 October 2009)

Dreadweave said:


> What is PE  or P/E  as being referred to in this post ?https://www.aussiestockforums.com/forums/showpost.php?p=501484&postcount=1




"A valuation ratio of a company's current share price compared to its per-share earnings."

http://www.investopedia.com/terms/p/price-earningsratio.asp


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## Stabilo (21 June 2010)

_[I think i may have found the right section to post this in now..? forgive me if not, and please point me in the right direction]_

I was just looking through the course of sales of TLS on Commsec and noticed some trades have the condition of 'XT' beside them.
I have searched for a glossary but could not find one. On the stock chat, someone gave me a link to some: h ttp : // prices. comsec. com. au/ ClientAccess/ InstrumentSearch/ Help/ MarketPricesHelp . aspx (Apologies for the disjointed link, i am not allowed to post one as my post count is too low.)
But it doesn't list the 'XT' condition.
I have attached a screenshot of part of the page.

If anyone can help, i'd be most appreciatinve.
Thanks.


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## Timmy (21 June 2010)

Check this out Stabilo:

*What is a Cross Trade (XT)?*
https://www.aussiestockforums.com/forums/showthread.php?p=537066&highlight=cross#post537066

& this
*Crossed Trades (XT)*
https://www.aussiestockforums.com/forums/showthread.php?t=493

& this
*Commsec condition codes? *
https://www.aussiestockforums.com/forums/showthread.php?t=11076

& this
*Crossings*
http://www.asx.com.au/resources/education/basics/crossings.htm


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## Trembling Hand (21 June 2010)

Stabilo said:


> _[I think i may have found the right section to post this in now..? forgive me if not, and please point me in the right direction]_
> 
> But it doesn't list the 'XT' condition.
> I have attached a screenshot of part of the page.
> .




I means 'Cross Trade'. which is when a broker does an off market transfer and then reports it to the ASX. Probably a fund moving shares between accounts or happens a lot around option expriy when an option is exercised.

And a few other things,

<Timmy ya bet me>


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## Timmy (21 June 2010)

Trembling Hand said:


> <Timmy ya bet me>




A rare event! 
I'm on fire today.


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## Stabilo (21 June 2010)

Perfect.
Thanks folks!


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## boofis (26 December 2010)

CFD - .....?


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## pixel (26 December 2010)

boofis said:


> CFD - .....?



 Contract For Difference

you bet on the direction of a share or index price.
Some bookies (called "Marketmakers") will give you 20:1 or even 33:1 "leverage".
You buy a contract for, say, BHP to rise from $45. You buy 1000 contracts at 33:1 and pay $1,500. Every cent BHP rises, you make $10; if it's risen to $45.50, you sell, get your $1500 back, plus $500 for the "difference".
But if BHP falls to $44, you've lost $1,000.


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## dave1234 (11 March 2011)

What does B/E mean in the context of the following quote, I can't find it in google or the previous link?

https://www.aussiestockforums.com/forums/showthread.php?t=17461&p=618070&viewfull=1#post618070



> * XAO has hit its low of the day on the open
> * Throughout the afternoon it should steadily increase back to near B/E
> * Slight sell off in the last 20min


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## pixel (11 March 2011)

dave1234 said:


> What does B/E mean in the context of the following quote, I can't find it in google or the previous link?
> 
> https://www.aussiestockforums.com/forums/showthread.php?t=17461&p=618070&viewfull=1#post618070



 break even


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## dave1234 (11 March 2011)

Ah yes, should been obvious! Thanks


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## davede (11 June 2011)

Saw someone asking what PID was on another thread in relation to broking and CHESS.

Not 100% sure but believe:

PID = Participant IDentification

and am almost certain it refers to the broker who purchased the shares on your behalf - correct me if I'm wrong.

list of PIDs here: https://www.asxonline.com/intradoc-...lement/documents/communications/asx017090.pdf

Also,

HIN = Holder Identification Number, a number unique to you that identifies you as the share holder.

breakdown of the CHESS holding statement: http://www.asx.com.au/products/chess_statement.htm

p.s. just realised how many Daves there are on this forum. Hello brothers!


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## boofis (18 November 2011)

I'm nearly gouging my eye balls out reading the "Big R multiple wins" thread in Trading Systems/strategies cause I'm only speculating about what R actually stands for! Help!


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## lindsayf (19 November 2011)

'R' stands for the amount ( usually in % of account) initially at risk when a trade is entered.  So a multi R win means you have profited by a multiple of the initial amt risked at the close of the trade.


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## bos1234 (12 December 2012)

Great thread. I've favourited it! Some of these acronyms do not come up via google


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## Julia (12 December 2012)

"Favourited"?  Oh god, please no.


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## pixel (13 November 2013)

Julia said:


> "Favourited"?  Oh god, please no.




Yes, it does sound cringeworthy. Why not Google it? 
I wasn't sure myself, so I did. And look what I've found: http://en.wiktionary.org/wiki/favourite#English



> Verb
> 
> favourite (third-person singular simple present favourites, present participle favouriting, simple past and past participle *favourited*)
> 
> ...




We learn something new every day


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## Julia (13 November 2013)

I don't know anything about the above source.  It certainly doesn't feature in the Oxford.
It sounds awful.
I detest turning nouns into verbs.
Another equally egregious example is "medalled", eg "he failed to medal in the Olympics".
We have perfectly adequate English words available to convey meaning without bastardising it.


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## Ves (13 November 2013)

Julia said:


> It certainly doesn't feature in the Oxford.




http://www.oxforddictionaries.com/us/definition/american_english/favorite



> verb
> [with object]
> 
> record the address of (a website or other data) to enable quick access in future:you can see who else favorited the same pictures


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## Julia (13 November 2013)

From "Oxford English Dictionary"
http://public.oed.com/?post_type=page&s=favourited


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## McLovin (13 November 2013)

Julia said:


> From "Oxford English Dictionary"
> http://public.oed.com/?post_type=page&s=favourited




Are you sure that's searching the dictionary and not just their website? OED is a subscription service, not free, AFAIK.

I'm not sure if the word is or isn't in the OED, I just don't think you actually searched it.

Language is a dynamic beast though. It wouldn't be the first noun to be turned into a verb.


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## Ves (13 November 2013)

Julia,   see my my link.  Includes the British and American spellings.

They are both from the same company.  

Read the verb usage for favourite when used in internet terminology  (also in my post).


Cheers,   I'm done here.


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## burglar (14 November 2013)

I think y'all getting a little pedantic about it.
But think F1, they are "gridded"!


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## pixel (14 November 2013)

burglar said:


> I think y'all getting a little pedantic about it.
> But think F1, they are "gridded"!






One of my English teachers - yes, many decades ago, in the middle of last century! - considered turning nouns into verbs evidence of the richness and flexibility of a living language. He quoted a report of a rugby game: "The player pockets the ball and refuses to be hounded until the try is complete."

Whenever I come across a similar verbification, I am reminded of the ball-pocketing, unhounded rugby player; it conjures up a picture that describes the event better and more vividly than any "correct" construct could.

"I've bookmarked the link into my list of favourites" may describe the action to any pedant's satisfaction.
"I've favourites the link" says the same, but shorter and in terms that everybody, who has ever favourited a link, can instantly visualise.


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## Julia (14 November 2013)

McLovin said:


> Are you sure that's searching the dictionary and not just their website? OED is a subscription service, not free, AFAIK.
> 
> I'm not sure if the word is or isn't in the OED, I just don't think you actually searched it.



Probably right, McLovin.  




> Language is a dynamic beast though. It wouldn't be the first noun to be turned into a verb.



I know it wouldn't.  Doesn't mean I won't be resistant to it happening, however.  "Favourited"!!  It sounds awful, clunky, and just wrong.
Happy to admit to being a pedant about language.


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