Financial Glossary: N

Names (Lloyds)

Names are wealthy individuals (with at least £250,000 of liquid assets) who have traditionally supported the Lloyds of London insurance market. Names agree to put their entire wealth on the line should it be necesasary to meet claims, in return for substantial commissions.

National Association of Securities Dealers Automated Quotations system (NASDAQ)

NASDAQ is the second largest equity market in the USA and lists thousands of US and foreign companies. In recent years it has attracted a lot of high technology companies. The Stock Exchange Market offers electronic trading using computers and a vast telecommunications network.

National Savings Certificates

A range of tax-free investments from the government that pay a guaranteed return. An attractive investment for taxpayers, especially those paying at the higher level.

National Savings Stock Register (NSSR)

The facility to buy gilts over the Post Office Counter.

Net asset value (NAV)

The Net Asset Value of a company is the total value of all its assets less its liabilities.

Negative equity

Negative equity refers to a situation when the value of your property falls below the figure of the mortgage/loan taken out to buy it.

Net yield

The annual return on an investment after tax.

New issue

Shares that are offered to the general public on the Stock Exchange for the first time.

New York Stock Exchange (NYSE)

The largest and oldest Stock Exchange in the US, located on Wall Street in New York.

Nominal value

The value of the security when it is first issued, also known as the par value.

Nominee account

Nominee accounts are set up by stockbrokers and are used for the purpose of administering assets held on behalf of their clients. Nominee accounts have become widespread since the introduction of the CREST system for share settlement.

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