G.N.M.A.
| The Government National Mortgage Association; a government agency within the Department of Housing and Urban Development that, among other things, guarantees payment on mortgage-backed certificates. (See Ginnie Mae).
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Gearing
| A company's debts expressed as a percentage of its equity capital. High gearing means debts are high in relation to equity capital.
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General Obligation (GO) Bond
| A municipal bond whose issuer's ability to pay back principal and interest is based on its full taxing power.
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General Obligation Bonds
| Securities issued by states and municipalities which are secured by the full faith and credit, hence, taxing power, of the issuer.
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Ginnie Mae
| Pass-through mortgage-backed certificates guaranteed by the Government National Mortgage Association (GNMA or Ginnie Mae). The certificates are backed by pools of FHA insured and/or VA guaranteed residential mortgages, with the mortgage and not held in safekeeping by a custodial financial institution. Also called G.N.M.A.s or G.N.M.A. certificates.
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Ginzy Trading
| A trade practice in which a floor broker, in executing an order -- particularly a large order -- will fill a portion of the order at one price and the remainder of the order at another price to avoid an exchange's rule against trading at fractional increments or "split ticks." In In re Murphy, [1984-86 Transfer Binder] Comm. Fut L. Rep. (CCH) at pp. 31,353-4 (Sept. 25, 1985), the Commission found that ginzy trading was a noncompetitive trading practice in violation of section 4c(a)(B) of the Commodity Exchange Act and CFTC regulation 1.38(a).
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Give Up
| A contract executed by one broker for the client of another broker that the client orders to be turned over to the second broker. The broker accepting the order from the customer collects a wire toll from the carrying broker for the use of the facilities. Often used to consolidate many small orders or to disperse large ones.
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Globex
| An international electronic trading system for futures and options that allows participating exchanges to list their products for trading after the close of the exchanges' open outcry trading hours. Developed by Reuters Limited for use by the Chicago Mercantile Exchange (CME), Globex was launched on June 25, 1992, for certain CME contracts. Various MATIF (Marche a Terme International de France) contracts began trading on the system on March 15, 1993.
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GNMA
| See Government National Mortgage Association.
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Gold Certificate
| A certificate attesting to a person's ownership of a specific amount of gold bullion.
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Gold Fixing (Gold Fix)
| The setting of the gold price at 10
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Gold/Silver Ratio
| The number of ounces of silver required to buy one ounce of gold at current spot prices.
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Good Delivery
| Securities delivered to the broker from the seller that are properly endorsed and in proper order to be delivered to the buyer.
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Good This Week Order (GTW)
| Order which is valid only for the week in which it is placed.
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Good-Til-Canceled (open) Order (GTC)
| An order that does not expire at the end of the day it is entered. Instead, it remains in force until it is either executed or canceled. Ameritrade cancels all GTC orders at the end of the next month after the order has been placed.
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Good-Till- Canceled Order (Gtc Order)
| A limit order entered through a broker, which remains on the books of the FCM's exchange trading floor desk until it is executed, the series expires or the order is canceled by the originator of the order.
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Government Bond
| Debt security issued by the U.S. Government.
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Government National Mortgage Association (GNMA)
| A quasi-governmental organization organized when FNMA was split into two divisions in 1968. GNMA administers and guarantees mortgage-backed securities.
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Government National Mortgage Association Certifica
| Certificates backed by an underlying pool of insured or guaranteed mortgages. These certificates carry the full faith and credit of the U.S. government.
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GPM
| See Gross Processing Margin.
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Grades
| Various qualities of a commodity.
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Grading Certificates
| A formal document setting forth the quality of a commodity as determined by authorized inspectors or graders.
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Grain Futures Act
| Federal statute that regulates trading in grain futures, effective June 22, 1923; administered by the U.S. Department of Agriculture; amended in 1936, creating the Commodity Exchange Authority and referred to as the Commodity Exchange Act as amended by the Commodity Futures Trading Commission Act in 1974.
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Grantor
| The maker, writer, or issuer of an option contract who, in return for the premium paid for the option, stands ready to purchase the underlying commodity (or futures contract) in the case of a put option or to sell the underlying commodity (or futures contract) in the case of a call option.
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Gross Processing Margin (GPM)
| Refers to the difference between the cost of a commodity and the combined sales income of the finished products which result from processing the commodity. Various industries have formulas to express the relationship of raw material costs to sales income from finished products. See Crack and Crush.
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Growth Stock
| Stock of a company in a new industry or of a company participating in an emerging industry.
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GTC
| Good-Till-Cancelled. An order left with a Dealer to buy or sell at a fixed price. The GTC will remain in place until executed or cancelled.
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GTW
| See Good This Week order.
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Guardian
| Someone who manages securities in a minor’s account or someone who handles the affairs of an incompetent person.
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Guided Account
| A customer account that is part of a program directed by a Commodity Trading Advisor or Futures Commission Merchant. Such programs usually require a minimum initial investment and may include a trading strategy that will utilize only a part of the investment at any given time.
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