The amount by which an option is in-the-money. The intrinsic value is the difference between the exercise/strike price and the price of the underlying security.
Inverse floater
A bond with a coupon rate structured to move in the opposite direction of interest rates.
Investment Services Directive
The European Union Investment Services Directive, adopted in 1993, sought to establish the conditions in which authorised investment firms and banks could provide specified services in other European Union Member States on the basis of home country authorisation and supervision. It has subsequently been extended by the Markets in Financial Instruments Directive.
Investment trust
A company whose sole business consists of buying, selling and holding shares.
ISD
ISD 2
ISIN code
The structure of the ISIN code is: 2-digit alphacountry code (ISO 3166) or XS for securities numbered by CEDEL or Euroclear; 9-digit alphanumeric code based on the national securities code or the common CEDEL/Euroclear code; a check digit computed according to the modulus 10 'double-add double'.
Issue price
The gross price placed on a new bond issue, expressed as a percentage of the principal amount.
Issuer
A corporation or governmental agency which borrows money through the sale of securities.
