What Is an Interval Fund? An interval fund is a non-traditional type of closed-end mutual fund that periodically offers to buy back a percentage of outstanding shares from shareholders. Shareholders are not, however, often required to sell their shares back to the fund. This can be contrasted with traditional closed-end funds that raise a prescribed amount of capital only at
What Is an Inter-Vivos Trust? An inter-vivos trust is a fiduciary relationship used in estate planning created during the lifetime of the trustor. Also known as a living trust, this trust has a duration that is determined at the time of the trust’s creation and can entail the distribution of assets to the beneficiary during or after
What Is an Interim Statement? An interim statement is a financial report covering a period of less than one year. Interim statements are used to convey the performance of a company before the end of normal full-year financial reporting cycles. Unlike annual statements, interim statements do not have to be audited. Interim statements increase communication
What Is the Interledger Protocol? Interledger protocol is a blockchain protocol used for payments across different payment networks. The open-source protocol connects ledgers from two or more different banks, thereby removing intermediaries and central authorities from the system. It promises to reduce costs and the time required to process cross-border transactions. Interledger is utilized by
What Is an Interlisted Stock? An interlisted stock is one that is listed on multiple stock exchanges, usually in a company’s home country and one or more additional countries. Interlisting is thought to offer a range of benefits to the listing company, primarily access to more and cheaper capital. Key Takeaways An interlisted stock is one
What Is an Intermarket Spread? An intermarket spread is an arbitrage strategy for trading various correlated instruments in the commodity futures market. Using this method, a trader places orders for the simultaneous purchase of a commodity futures contract with a given expiration month and also sells the same expiration month of a futures contract in a closely related commodity (e.g., purchase
What Is Intermarket Spread Swap? An intermarket spread swap is an exchange, or sale, of one bond for another with different terms, such as a different coupon rate, credit rating, or maturity date, to capitalize on yield discrepancies between bond sectors. Key Takeaways An intermarket spread swap is an exchange, or sale, of one bond
What Is the Intermarket Surveillance Group (ISG)? The Intermarket Surveillance Group (ISG) is comprised of more than 50 organizations worldwide, including market regulators and exchanges from various countries around the world. The objectives of the group are to monitor and identify manipulative or fraudulent activities in the financial markets and to share information between members. Information sharing allows
What Was the Intermarket Trading System (ITS)? The Intermarket Trading System (ITS) was an electronic network that linked the trading floors of nine American stock exchanges. Brokers and market makers on any of the linked exchanges could use ITS to find and execute the best price available. A broker on the floor of one exchange could
What Is Intermodal Freight? Intermodal freight consists of products and raw materials that are transported in a container by a variety of vehicles, such as container ships, semi-trailer trucks, and trains. Containers designed for intermodal freight often adhere to International Organization for Standardization (ISO) dimension guidelines, which allow the freight to remain in the same container when
