What Are Corporate Inflation-Linked Securities (CILS)? The term corporate inflation-linked securities (CILS) refers to a series of security that seeks to mitigate the risks posed by inflation to a bond’s rate of return. A bond or other similar security’s returns drop when interest rates rise. This is mitigated by indexing the coupon rate to an
What Was the Cincinnati Stock Exchange? The Cincinnati Stock Exchange was a securities exchange formed in 1885 by a group of Cincinnati businessmen. The CSE’s headquarters moved to Chicago in 1995, and in 2003, the CSE changed its name to the National Stock Exchange (NSX) and relocated its headquarters to New Jersey. Key Takeaways The Cincinnati
What Is the Chartered Insurance Professional (CIP) Designation? The Chartered Insurance Professional (CIP) designation is an influential professional accreditation within the Canadian property and casualty insurance industry. It is administered by the Insurance Institute of Canada, a non-profit organization headquartered in Toronto, Canada. To obtain the CIP, candidates must complete 10 courses and pass their
What Is a Circuit Breaker? The term “circuit breaker refers” to an emergency-use regulatory measure that temporarily halts trading on an exchange. Circuit breakers attempt to curb in panic-selling and can also be triggered on the way up with manic-buying. They are commonly used for individual securities as well as broad market indexes like the
What Is a Circular Merger? A circular merger is a transaction to combine companies that operate within the same general market, but offer a different product mix. A company engages in a circular merger to provide a greater range of products or services within their market. For example, if a snack food company engages in
What Is Circulating Capital? Circulating capital is money being used for core operations of a company. Circulating capital includes cash, operating expenses, raw materials, inventory in process, finished goods inventory, and accounts receivable. Circulating capital is frequently referred to as working capital or alternatively, revolving capital. Key Takeaways Circulating capital is the money required for
What Is a Circus Swap? A circus swap is a common forex strategy that involves the combination of an interest rate swap and a currency swap in which a fixed-rate loan in one currency is swapped for a floating-rate loan in another currency. A circus swap thus converts not just the basis of the interest rate
What Is a Citizen Test? A citizen test, also called a resident test, determines whether a taxpayer can claim a dependent under rules set by the Internal Revenue Service (IRS). The claimed dependent must be a U.S. citizen, a U.S. resident, a resident of Mexico or Canada, or an adopted child who has lived with
What Is CIVETS (Colombia, Indonesia, Vietnam, Egypt, Turkey, and South Africa)? CIVETS is an investing acronym for the countries Colombia, Indonesia, Vietnam, Egypt, Turkey, and South Africa, which in the late 2000s were widely regarded as the next emerging market economies that would rise quickly during the coming decades. The acronym CIVETS was coined in 2009 at
What Is a Civil Authority Clause? A civil authority clause, also known as a public authority clause, is an insurance policy provision that outlines how the loss of business income coverage (BIC) applies when a government entity denies access to the insured property. Key Takeaways A civil authority clause is an insurance policy provision that
