NACHA

U.S. organization governing ACH payments, ensuring secure electronic transfers.

Naked Call

Selling a call option without owning the underlying asset, high-risk strategy.

Naked Option

Selling options without a hedge, exposing the seller to unlimited risk.

Naked Put

Selling a put option without shorting the underlying asset, risking large losses.

Naked Shorting

Selling shares short without borrowing them, illegal in many markets.

Named Beneficiary

A person designated to receive benefits, like from insurance or retirement accounts.

Named Perils Insurance Policy

Coverage for specific risks listed in the policy, like fire or theft.

Nanny Tax

Taxes on household employees, like nannies, including Social Security and Medicare.

Narrow Money

Money supply (M1) including cash and checking accounts, highly liquid.

Nasdaq

U.S. stock exchange focusing on tech and growth companies, fully electronic.

Nasdaq 100 Index

Tracks 100 large-cap, non-financial Nasdaq-listed companies, tech-heavy.

Nasdaq Capital Market

Nasdaq tier for smaller, growth-oriented companies with lower listing requirements.

Nasdaq Composite Index

Tracks all Nasdaq-listed stocks, heavily weighted toward technology.

Nasdaq Global Select Market Composite

Nasdaq’s highest-tier index for large, financially strong companies.

Nash Equilibrium

A game theory state where no player benefits by changing strategy unilaterally.

National Association of Certified Valuation Analysts (NACVA)

Group certifying business valuation professionals, ensuring industry standards.

National Association of Federal Credit Unions (NAFCU)

Trade group supporting U.S. federal credit unions with advocacy and resources.

National Association of Insurance Commissioners (NAIC)

U.S. organization setting insurance regulations and standards for state oversight.

National Association of Insurance and Financial Advisors (NAIFA)

Professional group for insurance and financial advisors, promoting ethics and education.

National Association of Investors Corp. (NAIC)

Nonprofit teaching individuals about investing, also known as BetterInvesting.

National Association of Real Estate Investment Trusts (Nareit)

Trade group promoting REITs, providing research and advocacy.

National Association of Realtors (NAR)

U.S. real estate trade group setting standards and providing MLS access.

National Association of Securities Dealers (NASD)

Former U.S. self-regulatory body for securities, now part of FINRA.

National Association of State Boards of Accountancy (NASBA)

U.S. group overseeing CPA licensing and accounting standards.

National Average Wage Index (NAWI)

U.S. index adjusting Social Security benefits based on wage growth.

National Bank

A bank chartered by the federal government, regulated by the OCC.

National Best Bid and Offer (NBBO)

The best available bid and ask prices across U.S. exchanges.

National Bureau of Economic Research (NBER)

U.S. organization defining recessions and conducting economic research.

National Commodities And Derivatives Exchange (NCDEX)

India’s exchange for agricultural commodity futures and derivatives.

National Credit Union Administration (NCUA)

U.S. agency regulating and insuring federal credit unions.

National Currency

A country’s official currency, like USD or EUR, for transactions.

National Futures Association (NFA)

U.S. self-regulatory body overseeing futures and derivatives markets.

National Housing Act

1934 U.S. law creating the FHA, promoting homeownership and mortgage insurance.

National Income Accounting

System measuring economic activity, like GDP, for policy and analysis.

National Insurance Contributions (NIC)

UK payroll taxes funding social benefits, like pensions or healthcare.

National Market System (NMS)

U.S. system linking exchanges for transparent, efficient securities trading.

National Registration Database (NRD)

Canadian system for registering securities professionals and firms.

National Retail Federation (NRF)

U.S. trade group for retail, providing economic and policy insights.

National Securities Clearing Corporation (NSCC)

U.S. clearinghouse ensuring securities trade settlement and risk management.

National Securities Markets Improvement Act (NSMIA)

1996 U.S. law streamlining securities regulation, preempting some state rules.

National Stock Exchange of India Limited (NSE)

India’s largest stock exchange, trading equities and derivatives.

Nationalization

Government taking control of private assets or industries, impacting markets.

Natural Gas ETF

Exchange-traded fund tracking natural gas prices or related companies.

Natural Gas Liquids

Hydrocarbons like propane extracted from gas, traded as commodities.

Natural Gas Storage Indicator (EIA Report)

Weekly U.S. report on gas inventories, influencing energy prices.

Natural Hedge

Offsetting financial risks without derivatives, like matching currency revenues and costs.

Natural Language Processing (NLP)

AI analyzing text/speech, used in fintech for sentiment or fraud detection.

Natural Law

Economic theory of inherent market rules, influencing free-market policies.

Natural Monopoly

A single firm efficiently serving a market, like utilities, due to high fixed costs.

Natural Selection

Economic analogy where market forces favor efficient firms, eliminating others.

Natural Unemployment

Baseline unemployment from job transitions, not economic downturns.

NAV Return

Net asset value change plus distributions, measuring fund performance.

Near Field Communication (NFC)

Technology for contactless payments, like mobile wallets, in financial services.

Near Money

Assets nearly as liquid as cash, like savings accounts or T-bills.

Near Term

A short time horizon, typically under a year, in financial planning.

Near the Money

Options with strike prices close to the underlying asset’s current price.

Neckline

A chart pattern’s support/resistance line, like in head and shoulders, signaling reversals.

Needs Approach

Calculating insurance needs based on financial obligations, like income replacement.

Negative Amortization

Loan balance increasing when payments don’t cover interest, common in some mortgages.

Negative Arbitrage

Earning less on invested borrowed funds than the borrowing cost.

Negative Assurance

Auditor statement that nothing problematic was found, less definitive than positive assurance.

Negative Bond Yield

Bonds yielding less than zero, where investors pay to hold debt.

Negative Carry

Holding an investment where costs (e.g., interest) exceed returns.

Negative Confirmation

Audit method assuming agreement unless a discrepancy is reported.

Negative Convexity

When a bond’s price sensitivity decreases as yields rise, common in callable bonds.

Negative Correlation

When two assets move oppositely, like stocks and bonds, aiding diversification.

Negative Covenant

Loan terms restricting borrower actions, like limiting dividends or debt.

Negative Directional Indicator (-DI)

Part of ADX, signaling downward price momentum in technical analysis.

Negative Equity

When an asset’s value is less than its loan balance, like an underwater mortgage.

Negative Feedback

A system where outcomes dampen initial actions, stabilizing markets.

Negative Gap

When interest-sensitive liabilities exceed assets, risking loss in rising rates.

Negative Gearing

Borrowing to invest where income is less than loan costs, expecting capital gains.

Negative Goodwill (NGW)

When an acquisition’s purchase price is less than the target’s net assets.

Negative Growth

A decline in economic or financial metrics, like revenue or GDP.

Negative Income Tax (NIT)

A system providing income to low earners via tax credits, reducing poverty.

Negative Interest Rate

Rates below zero, where depositors pay to hold funds, used in monetary policy.

Negative Interest Rate Environment

When central banks set negative rates, impacting savings and investments.

Negative Interest Rate Policy (NIRP)

Central bank policy setting rates below zero to stimulate economic activity.

Negative Pledge Clause

A loan covenant preventing new liens on assets, protecting lenders.

Negative Return

An investment loss, where returns are less than the initial investment.

Negative Volume Index (NVI)

A technical indicator assuming low volume reflects smart money, signaling trends.

Negotiable

Financial instruments transferable by endorsement, like checks or bonds.

Negotiable Bill of Lading

A shipping document transferable to others, used in trade finance.

Negotiable Certificate Of Deposit (NCD)

A large-denomination CD tradeable in secondary markets, offering liquidity.

Negotiable Instrument

A transferable document, like a check, promising payment to the holder.

Negotiable Order of Withdrawal (NOW)

A checking account paying interest, combining liquidity and returns.

Negotiated Dealing System (NDS)

India’s platform for trading government securities and money market instruments.

Negotiation

Bargaining to reach financial or business agreements, like loan terms.

Nelson Peltz

Activist investor known for pushing corporate changes to boost shareholder value.

Neoclassical Economics

Theory emphasizing supply/demand and rational behavior in markets.

Neoclassical Growth Theory

Model explaining growth via capital, labor, and technology, guiding investment.

Neoliberalism

Economic policy favoring free markets, deregulation, and reduced government role.

Nepalese Rupee (NPR)

Nepal’s currency, used in its financial and trade transactions.

Nest Egg

Savings or investments set aside for future needs, like retirement.

Net Asset Value (NAV)

A fund’s total assets minus liabilities, divided by shares outstanding.

Net Asset Value Per Share (NAVPS)

NAV divided by the number of fund shares, used in pricing.

Net Cash

Cash and equivalents minus current liabilities, measuring liquidity.

Net Change

The price difference between a security’s current and previous close.

Net Charge-Off (NCO)

Loans written off as uncollectible, net of recoveries, impacting bank earnings.

Net Current Asset Value Per Share (NCAVPS)

Current assets minus liabilities, divided by shares, used in value investing.

Net Debt

Total debt minus cash and equivalents, assessing financial leverage.

Net Debt Per Capita

National debt divided by population, measuring per-person debt burden.

Net Debt-to-EBITDA Ratio

Net debt divided by EBITDA, evaluating a firm’s ability to pay debt.

Net Domestic Product (NDP)

GDP minus depreciation, reflecting net economic output.

Net Export

Exports minus imports, contributing to GDP and trade balance.

Net Exposure

Total risk exposure after offsetting hedges or opposing positions.

Net Foreign Assets (NFA)

A country’s foreign assets minus liabilities, impacting balance of payments.

Net Foreign Factor Income (NFFI)

Income from foreign investments minus payments to foreigners, part of GNP.

Net Importer

A country importing more than it exports, affecting trade deficits.

Net Income (NI)

Profit after all expenses, taxes, and costs, key for financial analysis.

Net Income After Taxes (NIAT)

Net income post-tax, reflecting final profitability.

Net Interest Income

Bank revenue from interest earned minus interest paid, a key metric.

Net Interest Margin

Net interest income divided by interest-earning assets, measuring bank profitability.

Net Interest Rate Differential (NIRD)

Interest rate gap between two assets or currencies, used in forex or swaps.

Net Internal Rate of Return

IRR adjusted for external cash flows, used in project evaluation.

Net Interest Rate Spread

Difference between lending and borrowing rates, driving bank profits.

Net International Investment Position (NIIP)

A country’s foreign assets minus liabilities, showing global financial standing.

Net Investment

Gross investment minus depreciation, reflecting capital growth.

Net Investment Income (NII)

Income from investments, like dividends or interest, after expenses.

Net Lease

A lease where tenants pay some or all property expenses, like taxes.

Net Liquid Assets

Liquid assets minus current liabilities, assessing short-term liquidity.

Net Loss

Negative profit after expenses exceed revenue, impacting financial health.

Net National Product (NNP)

GNP minus depreciation, measuring sustainable economic output.

Net-Net

A stock trading below its net current asset value, a value investing metric.

Net Neutrality

Equal treatment of internet data, impacting fintech and digital banking costs.

Net of Tax

Financial figures after tax deductions, like net income or dividends.

Net Operating Income

Revenue minus operating expenses, used in real estate or business valuation.

Net Operating Loss (NOL)

Losses carried forward to offset future taxable income, reducing taxes.

Net Operating Profit After Tax (NOPAT)

Operating profit minus taxes, used in valuation models like EVA.

Net Operating Profit Less Adjusted Taxes (NOPLAT)

NOPAT adjusted for non-operating items, used in financial analysis.

Net Premium

Insurance premiums after deductions, like reinsurance costs.

Net Premiums Written

Total premiums an insurer writes, net of reinsurance, reflecting business volume.

Net Present Value (NPV)

Present value of cash flows minus initial investment, used in project evaluation.

Net Present Value of Growth Opportunities (NPVGO)

NPV portion from future growth, used in stock valuation.

Net Present Value Rule

Accepting projects with positive NPV, maximizing shareholder value.

Net Proceeds

Funds received from a sale after expenses, like taxes or fees.

Net Profit Margin

Net income divided by revenue, measuring profitability efficiency.

Net Realizable Value (NRV)

Asset’s expected sale value minus disposal costs, used in inventory accounting.

Net Receivables

Accounts receivable minus allowances for bad debts, on balance sheets.

Net Sales

Revenue after deductions for returns, discounts, or allowances.

Net Settlement

Clearing trades by offsetting payments, reducing transaction costs.

Net Tangible Assets

Total assets minus intangibles and liabilities, used in valuation.

Net Unrealized Appreciation (NUA)

Tax-advantaged gain on employer stock in retirement plans, upon distribution.

Net Volume

Buy volume minus sell volume, indicating market direction in trading.

Net Worth

Total assets minus liabilities, measuring personal or corporate wealth.

Netback

Revenue from oil/gas sales minus production and transport costs, in energy markets.

Netting

Offsetting financial obligations to reduce transaction amounts or risks.

Network Effect

Increased value of a product as more users join, like in fintech platforms.

Network Marketing

Selling through a network of distributors, like MLM, often in financial products.

Networking

Building professional relationships to enhance financial or business opportunities.

Neural Network

AI modeling complex patterns, used in financial forecasting or trading.

Neutral

An investment stance expecting no significant price movement, neither bullish nor bearish.

Neutrality Of Money

Theory that money supply changes only affect prices, not real economic output.

New Deal

1930s U.S. programs boosting economy post-Depression, impacting fiscal policy.

New Drug Application (NDA)

FDA submission for drug approval, critical for biotech investment timelines.

New Economy

Tech-driven economy emphasizing innovation, like internet or fintech sectors.

New Fund Offer (NFO)

Initial offering of a new mutual fund, raising capital from investors.

New Growth Theory

Economic model linking innovation and knowledge to sustained growth.

New Home Sales

Monthly U.S. data on new home purchases, signaling housing market strength.

New Issue

Securities newly offered to the public, like IPOs or bond issuances.

New Keynesian Economics

Theory blending Keynesian ideas with microeconomic foundations, guiding policy.

New Paradigm

A shift in economic or market thinking, like tech-driven growth models.

New York Board of Trade (NYBOT)

Former exchange for commodities like coffee, now part of ICE.

New York Mercantile Exchange (NYMEX)

U.S. exchange for energy and metals futures, part of CME Group.

New York Stock Exchange (NYSE)

World’s largest stock exchange, trading equities and other securities.

Newly Industrialized Country (NIC)

Nations transitioning to advanced economies, like South Korea or Singapore.

News Trader

A trader acting on market-moving news, like earnings or policy changes.

NEX

A former UK exchange for smaller firms, now part of Aquis Exchange.

Next-In, First-Out (NIFO)

Hypothetical inventory method using replacement cost, not used in GAAP.

Next of Kin

Closest relatives, relevant for inheritance or beneficiary designations.

NEXUS

U.S.-Canada program for expedited border crossing, impacting trade logistics.

Nifty 50

India’s benchmark stock index, tracking 50 major companies on NSE.

Nigerian Scam

Fraudulent schemes promising wealth, often via email, targeting financial victims.

Night Depository

Bank service for after-hours deposits, ensuring secure cash handling.

Nikkei

Japan’s main stock index, tracking 225 companies on the Tokyo Exchange.

NINJA Loan

No-income, no-job, no-asset loans, high-risk, prevalent pre-2008 crisis.

Nixon Shock

1971 U.S. policy ending gold standard, impacting global currencies.

No Documentation Mortgage (No Doc)

A mortgage requiring minimal borrower verification, risky and rare post-crisis.

No-Load Fund

A mutual fund without sales charges, reducing investor costs.

No-Par Value Stock

Shares without a nominal value, priced by market demand.

No-Shop Clause

A contract term preventing a seller from seeking other buyers during negotiations.

No Transaction Fee Mutual Fund

A fund sold without brokerage commissions, lowering investor costs.

Noise

Random market price fluctuations, complicating trading or analysis.

Noise Trader

Investors trading on sentiment or rumors, causing market volatility.

Nominal

Values not adjusted for inflation, like nominal GDP or interest rates.

Nominal Effective Exchange Rate (NEER)

A currency’s value against a basket of currencies, unadjusted for inflation.

Nominal Gross Domestic Product

GDP without inflation adjustment, reflecting current prices.

Nominal Interest Rate

Interest rate before inflation adjustment, contrasting real rates.

Nominal Rate of Return

Investment return before inflation or taxes, unadjusted for purchasing power.

Nominal Value

The face or stated value of an asset, like a bond’s par value.

Nominal Yield

A bond’s coupon rate divided by its face value, ignoring market price.

Nominated Advisor (NOMAD)

A firm guiding companies on AIM (UK exchange) listing requirements.

Nomination Committee

A board group selecting or recommending corporate directors or executives.

Nominee

A person or entity holding assets for another, like a broker for a client.

Non-Accelerating Inflation Rate of Unemployment

Unemployment level where inflation remains stable, key for monetary policy.

Non-Accredited Investor

Investors not meeting SEC wealth criteria, restricted from certain investments.

Non-Assessable Stock

Shares not requiring additional payments post-purchase, protecting shareholders.

Non-Amortizing Loan

A loan with interest-only payments, principal due at maturity.

Non-Banking Financial Company (NBFC)

Non-bank firms offering financial services, like loans or leasing, regulated differently.

Non-Cash Charge

Expenses, like depreciation, not involving cash outflows, affecting earnings.

Non-Cash Item

Transactions or expenses, like write-offs, not involving immediate cash.

Non-Compete Agreement

A contract restricting employees from joining competitors, protecting business interests.

Non-Competitive Tender

A bid for securities at market price, common in Treasury auctions.

Non-Controlling Interest

Minority ownership in a subsidiary, reported in consolidated financials.

Non-Covered Security

Securities not subject to specific tax reporting, like certain bonds pre-1983.

Non-Deliverable Forward (NDF)

A currency derivative settled in cash, used for non-convertible currencies.

Non-Deliverable Swap (NDS)

A swap settled in cash, often for currencies with restricted convertibility.

Non-Disclosure Agreement (NDA)

A contract ensuring confidentiality of financial or business information.

Non-Executive Director

A board member not involved in daily operations, providing independent oversight.

Non-Exempt Employee

Workers eligible for overtime pay under labor laws, impacting payroll costs.

Non-Farm Payroll

U.S. monthly report on job growth, excluding agriculture, influencing markets.

Non-GAAP Earnings

Earnings excluding non-recurring items, providing a clearer profit view.

Non-Interest-Bearing Current Liability (NIBCL)

Short-term obligations, like accounts payable, not accruing interest.

Non-Interest Income

Bank revenue from fees or services, not interest, like transaction charges.

Non-Issuer Transaction

Securities trades between parties, not involving the issuing company.

Non-Marginable Securities

Securities not eligible for margin trading, due to volatility or rules.

Non-Marketable Security

Securities, like savings bonds, not easily traded in secondary markets.

Non-Member Banks

Banks not part of the Federal Reserve, subject to state regulation.

Non-Negotiable

Financial instruments or terms not transferable or open to change.

Non-Objecting Beneficial Owner (NOBO)

A shareholder allowing their identity to be disclosed for corporate communications.

Non-Operating Asset

Assets not used in core operations, like excess real estate, on balance sheets.

Non-Operating Expense

Costs unrelated to core business, like litigation fees, reducing profits.

Non-Operating Income

Revenue from non-core activities, like asset sales, boosting earnings.

Non-Owner Occupied

Property used for investment, not personal residence, affecting loan terms.

Non-Performing Asset (NPA)

Assets, like loans, not generating expected income, impacting bank health.

Non-Purpose Loan

A loan not tied to a specific purchase, often secured by securities.

Non-Qualified Deferred Compensation (NQDC)

Retirement plans without tax-qualified status, offering flexible executive benefits.

Non-Qualified Plan

Retirement or benefit plans not meeting IRS tax-advantaged criteria.

Non-Qualified Stock Option (NSO)

Employee stock options taxed at exercise, not IRS-qualified.

Non-Qualifying Investment

Investments not eligible for tax advantages, like certain speculative assets.

Non-Recourse Debt

Debt secured only by collateral, limiting lender recovery to the asset.

Non-Recourse Finance

Financing where the lender’s recovery is limited to collateral, reducing borrower risk.

Non-Refundable Tax Credit

A tax credit reducing liability but not refunded if it exceeds taxes owed.

Non-Renounceable Rights

Rights issues where shareholders cannot sell their rights, only exercise or lose them.

Non-Sampling Error

Errors in data collection, like bias, affecting financial or economic analysis.

Non-Security

Assets, like real estate, not classified as securities under regulations.

Non-Sufficient Funds

Insufficient account balance to cover a transaction, causing fees or rejection.

Non-Taxable Distribution

Payments, like return of capital, not subject to income tax.

Non-Traded REIT

Real estate investment trusts not listed on exchanges, less liquid but income-focused.

Nonaccrual Experience Method (NAE)

Estimating loan losses based on historical data, used by banks.

Nonaccrual Loan

A loan not earning interest due to delinquency, impacting bank revenue.

Noncallable

Bonds or securities that cannot be redeemed early by the issuer.

Noncancellable Insurance Policy

Insurance that cannot be terminated by the insurer during its term.

Nonce

A unique number used once in crypto mining to secure transactions.

Nonconforming Mortgage

A mortgage not meeting standard guidelines, like jumbo loans, often riskier.

Noncumulative

Dividends or interest not accrued if unpaid, common in preferred stock.

Noncurrent Assets

Assets held over a year, like property or patents, on balance sheets.

Noncurrent Liability

Obligations due beyond one year, like long-term debt, on balance sheets.

Nonelective Contributions

Employer retirement plan contributions made regardless of employee participation.

Nonfeasance

Failure to perform a required duty, like fiduciary neglect, risking legal action.

Nonfinancial Asset

Assets like real estate or equipment, not financial instruments.

Nonforfeiture Clause

Insurance clause ensuring policyholders retain some benefits if premiums lapse.

Noninterest Expense

Bank operating costs, like salaries or rent, not tied to interest.

Nonlinear Regression

Modeling non-linear relationships in data, used in complex financial forecasting.

Nonlinearity

Non-proportional relationships in financial models, complicating predictions.

Nonmonetary Assets

Assets without fixed cash value, like property or intellectual property.

Nonparametric Method

Statistical analysis without assuming data distribution, used in finance.

Nonparametric Statistics

Data analysis not relying on normal distribution, applied in risk modeling.

Nonpassive Income and Losses

Income or losses from active business involvement, taxed differently.

Nonperforming Asset

Synonym for non-performing asset, like delinquent loans, reducing bank profits.

Nonperforming Loan (NPL)

A loan where payments are overdue, typically 90+ days, risking default.

Nonprofit Organization (NPO)

An entity prioritizing mission over profit, funded by donations or grants.

Nonrenewable Resource

Finite resources, like oil, impacting commodity markets and investments.

Nonresident Alien

A non-U.S. citizen living outside the U.S., subject to specific tax rules.

Nontariff Barrier

Non-tax trade restrictions, like quotas, affecting import/export costs.

Nordic Model

Economic system blending capitalism and welfare, used in Scandinavian countries.

Normal-Course Issuer Bid (NCIB)

A company repurchasing its shares in the market, boosting stock value.

Normal Distribution

A bell-shaped data distribution, used in financial modeling for returns or risks.

Normal Good

Goods with demand rising as income increases, like luxury cars.

Normal Profit

Minimum profit needed for a firm to stay in business, covering costs.

Normal Retirement Age (NRA)

Age for full Social Security or pension benefits, typically 65-67.

Normal Yield Curve

Upward-sloping yield curve, with longer-term bonds yielding more than short-term.

Normalized Earnings

Adjusted earnings excluding one-time items, reflecting true performance.

Normative Economics

Economic analysis based on value judgments, like policy recommendations.

North American Free Trade Agreement (NAFTA)

1994 trade deal among U.S., Canada, Mexico, replaced by USMCA in 2020.

North American Industry Classification System (NAICS)

System classifying businesses by industry, used in economic and financial analysis.

North American Securities Administrators Association (NASAA)

Group coordinating state securities regulators, protecting investors.

North Sea Brent Crude

A global oil price benchmark, influencing energy markets and investments.

Norwegian Krone (NOK)

Norway’s currency, tied to its oil-driven economy, traded in forex.

Nostro Account

A bank’s account in foreign currency at another bank, used for international transactions.

Not for Profit

Synonym for nonprofit, focusing on mission over financial gain.

Not-Held Order

An order allowing a broker discretion on timing or price, not guaranteed.

Notary

A person certifying legal documents, like loan agreements, for authenticity.

Notching

Adjusting credit ratings for specific securities, reflecting relative risk.

Note

A debt instrument or written promise to pay, like a promissory note.

Notice of Assessment (NOA)

A tax authority’s statement of taxes owed or refunded after filing.

Notice of Default

A formal notice of missed loan payments, potentially leading to foreclosure.

Notice of Deficiency

IRS notice of additional taxes owed after a return is audited.

Notice of Termination

A formal notice ending a contract, like employment or a lease.

Notice to Creditors

A public notice for creditors to claim debts, often in estate settlements.

Notional Principal Amount

The reference amount for derivatives, like swaps, not actually exchanged.

Notional Value

The total value of a derivative’s underlying assets, used for risk assessment.

Novation

Replacing one contract or obligation with another, maintaining agreement terms.

Null Hypothesis

A statistical assumption of no effect, tested in financial research.

Numeraire

A standard unit for measuring value, like USD in financial calculations.

Numismatics

The study or collection of coins, relevant for rare coin investments.

N.V. (Naamloze Vennootschap)

Dutch term for a public limited company, similar to a corporation.

NYSE Arca

An electronic NYSE exchange trading equities, ETFs, and options.

NYSE Composite Index

A broad index tracking all common stocks listed on the NYSE.