| Take-Over | |
| One company obtaining control of another by obtaining a majority of the voting shares. | |
| T-bonds | |
| Treasury bonds which have a maturity date of more than 5 years. | |
| Tap stock | |
| Government stock offered for sale by the Government, sometimes to influence the price. | |
| Technical analysis | |
| a method of evaluating securities by analyzing statistics generated by market activity, such as past prices and volume. Charts are often used as a tool to show patterns that can suggest future trends. As opposed to fundamental analysis. | |
| Tender | |
| An issue of stocks or shares where prospective buyers specify the price they are willing to pay. The shares are then offered to the highest bidders. | |
| Tenth | |
| a specific term used by Finance and Sports traders to indicate the bet is based on a tenth of a point in the underlying market. | |
| Tick | |
| the smallest possible movement (up or down) in the price of a security. | |
| TIQ UK100 | |
| Special Trading IQ (available at CMC Markets) index based on the UK100. | |
| Tokyo Stock Exchange | |
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The Tokyo Stock Exchange opens at midnight UK time and is the second-largest equity market in the world by capitalisation, with a value of $4.4 trillion. There are almost 2,400 stocks listed on the exchange with the largest sectors being electrical appliances, banks and transportation equipment. Well-known constituents include Nissan, Honda, Toyota, Sony and Sanyo.
In terms of the market indices, the most widely quoted is the Nikkei-225 Stock Average, which comprises the 225 top-rated Japanese companies listed in the First Section of the TSE. It is unusual in that it is a price-weighted index, which means that the higher-priced constituents have a greater percentage impact than lower-priced ones. After the boom of the 1980s the Nikkei went through a prolonged bear market as the economy fell into a severe recession. Numerous false dawns followed but 2003 seems to have marked the turning point, in part due to en extensive package of economic and corporate reforms. Japan is an infrastructure supplier to the world and its economic recovery owes much to the rejuvenation of investment levels in areas such as steel, plant engineering, oil refining, mining equipment and shipping. Linked in to this is the fact that it is heavily-geared into China's economy, with around 50% of the country's exports now going to the Asia/China region. The Nikkei rose strongly in 2005 when it gained almost 50% and despite the volatility of 2006 many expert commentators believe that the country is in the middle of a long-term bull market. Note that just because a stock market closes doesn't necessarily mean that the associated equity index futures contracts can no longer be traded. For example, the Nikkei 225 contracts can be bought and sold on the Chicago Mercantile Exchange for most of the time that the Tokyo Stock Exchange is closed. [Source: Shares Magazine] |
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| Ton-ups | |
| Specific to sports spreads. Popular market in a variety of sports including cricket and snooker based on the aggregate scores of players who score over 100. So in snooker, a break of 122 contributes 22 to the market. | |
| Trading resources | |
| a combination of your cash balance, available credit, open profit or loss positions and initial margin. | |
| Trading tools | |
| aids to spot possible trends. Charts and market news are examples of trading tools. | |
| Trading Range | |
| This relates to a market where the price is range bound by a higher and lower price band. Usually markets will range trade when there is little news. | |
| Treasury bonds | |
| Government bonds (aka as Treasuries). | |
| TSE | |
| Tokyo Stock Exchange |