What Was Auroracoin? Auroracoin (AUR) was a peer-to-peer cryptocurrency developed in Iceland. It was launched in 2014 by a pseudonymous creator named Baldur Friggjar Óðinsson. Auroracoin was intended to serve as a mechanism for cross-border transfers in the local economy. Unfortunately, the cryptocurrency’s value crashed immediately after its launch in March 2014, and it was
What Is Austerity? The term austerity refers to a set of economic policies that a government implements in order to control public sector debt. Governments put austerity measures in place when their public debt is so large that the risk of default or the inability to service the required payments on its obligations becomes a real
What Is the Australian Future Fund? The term Australian Future Fund (AFF) refers to an Australian sovereign wealth fund (SWF) established by the country’s federal government. Founded in 2006, the fund’s main purpose is to boost the long-term position of the government. The Future Fund, as it is commonly known, is independently managed and generates
What Is the University of New South Wales Business School? The term University of New South Wales Business School refers to a business school located in Sydney, Australia. The school offers undergraduate, graduate, and postgraduate programs, including a variety of Master of Business Administration (MBA) degrees that are offered through the Australian Graduate School of Management.
What is Autarky? Autarky refers to a nation that operates in a state of self-reliance. Nations that follow a policy of autarky are characterized by self-sufficiency and limited trade with global partners. The definition of autarky comes from the Greek—autos, meaning “self” and arkein, meaning “to ward off” and “to be strong enough, to suffice.” A
What Is Autex? The term Autex refers to an electronic platform from Thomson Reuters that gives brokers a place to advertise pre- or post-trade liquidities for equities to their buy-side clients. As a result, buyers or sellers of a large block of shares are able to identify other large traders on the bid and ask
What Is an Authorization Code? An authorization code is an alphanumeric password that authorizes its user to purchase, sell or transfer items, or to enter information into a security-protected space. An authorization code is typically a sequence of letters, numbers, or a combination of both, that validates a person’s identity, approves a transaction or provides
What Is the Authorization Date? The authorization date is the date at which a credit or debit card transaction is approved by the credit card issuer. The authorization date is one of the critical stages in the process of authorizing and rendering electronic payments. Key Takeaways The authorization date is the date at which a
What Is Authorization Only? Authorization only is a type of payment card transaction that holds funds from a cardholder’s account for settlement at a later date. When an individual makes a purchase with a credit or debit card, the institution from which the purchase is made has to seek authorization to process the transaction from the issuer
What Is an Authorized Investment? An authorized investment is one that is made by a trustee–or fiduciary–that follows the written instructions in a trust. Many trust documents specifically exclude certain speculative investments, in order to ensure that trust funds are managed conservatively. In the past, some states limited the types of investments that a trust
