Instruments that are equivalent, substitutable and interchangeable in law.
Furthest month
The month that is furthest away from settlement of a futures or options contract.
Futures contract
A contract traded on a futures exchange which requires the delivery of a specified quality and quantity of a commodity, currency or financial instrument in a specified future month, if not liquidated before the contract matures.
Gamma
The rate at which a delta changes over time.
Gearing
A company's debts expressed as a percentage of its equity capital.
Geldkurs
The bid price on German and Swiss exchanges.
Genussscheine
Dividend right certificate (German and Swiss stock exchanges). Security incorporating the right to participate in the net profit and the liquidation proceeds of a company as well as the right to subscribe to new shares in the case of a rights issue. However, the holder has no membership rights, in particular he cannot attend shareholder meetings. The dividend-right certificate may be in bearer or registered form.
Geregelter Markt
The regulated market section of the German stock exchanges.
Gilt edged
(i) In the UK, loans issued on behalf of the government to fund its spending. Longs are gilts with a redemption date greater than 15 years. Mediums are those with a redemption date between 5 and 15 years. Shorts are those with a redemption date within 5 years. (ii) In the US top-quality stocks issued by corporations with a known record for profit and of paying dividends over the years. In the US, the term also refers to high-quality bonds.
Ginnie Mae
Securities issued by the Government National Mortgage Association (GNMA) of the US.
