T+1 (T+2, T+3)

Settlement time after a trade, e.g., T+1 is one business day.

T Distribution

Statistical distribution for small samples, used in financial hypothesis testing.

T-Account

Accounting tool showing debits and credits for financial transactions.

T-Test

Statistical test comparing means, used in financial data analysis.

Tactical Asset Allocation (TAA)

Adjusting portfolio allocations to exploit short-term market opportunities.

Taft-Hartley Act

1947 U.S. law regulating labor unions, impacting pension fund management.

Tag-Along Rights

Minority shareholders’ right to join majority sales, protecting value.

Taguchi Method of Quality Control

Statistical approach to optimize financial or operational processes.

Tail Risk

Risk of extreme, rare events causing significant portfolio losses.

Takaful

Sharia-compliant cooperative insurance, sharing risks among participants.

Take-Home Pay

Net income after taxes and deductions, available for spending or saving.

Take or Pay

Contract requiring payment for goods/services whether used or not, common in energy.

Take-Out Loan

Long-term loan replacing short-term financing, often in real estate.

Take-Profit Order (T/P)

Order to sell a security at a set price to lock in gains.

Takeover

Acquiring control of a company, often through stock purchases or mergers.

Tangible Asset

Physical or measurable assets, like property, unlike intangibles.

Tangible Book Value Per Share (TBVPS)

Book value excluding intangibles, divided by shares, for valuation.

Tangible Common Equity (TCE)

Common equity excluding intangibles, measuring financial strength.

Tangible Net Worth

Net worth excluding intangible assets, like goodwill, for solvency analysis.

Tangible Personal Property

Movable assets, like cars, taxed differently from real property.

Tape Reading

Analyzing real-time trade data to predict short-term price movements.

Taper Tantrum

Market disruption from reduced central bank bond buying, like in 2013.

Tapering

Gradual reduction of central bank asset purchases, tightening monetary policy.

Target-Date Funds

Retirement funds adjusting risk based on a set retirement date.

Target Markets

Specific customer groups, like high-net-worth, for financial products.

Targeted Accrual Redemption Note (TARN)

Structured note with capped payouts, tied to an index or rate.

Tariff

Tax on imports/exports, impacting trade costs and prices.

Tax Accounting

Preparing financial statements and tax returns per tax laws.

Tax-Advantaged

Accounts or investments, like IRAs, offering tax benefits.

Tax Avoidance

Legally minimizing taxes, unlike illegal tax evasion.

Tax Base

Total value of assets or income subject to taxation.

Tax Benefit

Reduction in tax liability, like credits or deductions.

Tax Brackets

Income ranges taxed at specific rates, defining progressive taxation.

Tax Break

Incentive reducing tax liability, like credits for energy efficiency.

Tax Credit

Direct reduction in tax owed, like for education or children.

Tax-Deductible Interest

Interest payments, like on mortgages, reducing taxable income.

Tax Deduction

Expense reducing taxable income, like charitable donations.

Tax Deed

Document transferring property due to unpaid taxes, via auction.

Tax Deferred

Postponing taxes on earnings, like in 401(k) plans, until withdrawal.

Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA)

U.S. law adjusting tax rules, like for pensions and healthcare.

Tax-Equivalent Yield

Taxable yield equivalent to tax-exempt yield, for comparing bonds.

Tax Evasion

Illegally avoiding taxes, like underreporting income.

Tax Exempt

Income or entities, like nonprofits, not subject to taxes.

Tax-Exempt Interest

Interest, like from municipal bonds, not taxed by the IRS.

Tax Expense

Taxes owed, recorded on financial statements, impacting net income.

Tax Fraud

Intentional misrepresentation to avoid taxes, like falsifying records.

Tax Free

Income or transactions not subject to taxation, like Roth IRA withdrawals.

Tax-Free Savings Account (TFSA)

Canadian account with tax-free growth and withdrawals, for savings.

Tax Haven

Jurisdiction with low or no taxes, attracting wealth or businesses.

Tax Holiday

Temporary tax exemption to encourage investment or economic activity.

Tax Identification Number (TIN)

Unique ID for tax purposes, like SSN or EIN, in the U.S.

Tax Incidence

Economic burden of a tax, who ultimately pays it.

Tax Liability

Total taxes owed to a government, based on income or assets.

Tax Lien

Government claim on property for unpaid taxes, restricting sales.

Tax Lien Certificate

Document sold to investors, allowing collection of unpaid property taxes.

Tax Loss Carryforward

Losses offsetting future taxable income, reducing tax liability.

Tax Loss Harvesting

Selling securities at a loss to offset capital gains taxes.

Tax Planning

Strategies to minimize tax liability, like deductions or deferrals.

Tax Rate

Percentage of income or value taxed, varying by bracket or type.

Tax Reform Act of 1986

U.S. law simplifying tax code, lowering rates, and closing loopholes.

Tax Refund

Money returned by the IRS for overpaid taxes.

Tax Relief

Reductions in tax burden, like credits or exemptions, for specific groups.

Tax Return

Form filed with tax authorities reporting income and taxes owed.

Tax Season

Annual period, typically January-April, for filing U.S. tax returns.

Tax Selling

Selling securities at a loss before year-end to offset taxes.

Tax Shelter

Legal strategies or investments reducing tax liability, like IRAs.

Tax-Sheltered Annuity

Retirement annuity for nonprofit employees, like 403(b), with tax benefits.

Tax Shield

Tax savings from deductions, like interest or depreciation, lowering liability.

Tax Table

IRS chart showing tax owed based on income and filing status.

Tax-to-GDP Ratio

Taxes collected divided by GDP, measuring tax burden.

Tax Treaty

Agreement between countries to avoid double taxation and promote trade.

Tax Wedge

Difference between gross pay and take-home pay due to taxes.

Taxable Income

Income subject to taxation after deductions and exemptions.

Taxable Wage Base

Income limit subject to Social Security tax, adjusted annually.

Taxation

Government levying taxes to fund services, impacting finances.

Taxation Without Representation

Taxes imposed without taxpayer input, historically a grievance.

Taxes

Mandatory payments to governments, funding public services or programs.

Taxpayer

Individual or entity paying taxes, like income or property taxes.

Taxpayer Identification Number (TIN)

Synonym for TIN, used for tax reporting, like SSN or EIN.

Taylor's Rule

Formula guiding central bank interest rates based on inflation and output.

Teacher Retirement System (TRS)

State pension plans for educators, providing retirement benefits.

Teachers, Insurance, and Annuity Association (TIAA)

Nonprofit offering retirement plans, like 403(b), for educators.

Technical Analysis

Predicting price movements using charts and indicators, not fundamentals.

Technical Analysis of Stocks and Trends

Studying stock price patterns and trends for trading decisions.

Technical Analyst

Professional using technical analysis to forecast market trends.

Technical Indicator

Mathematical tool, like RSI, used in technical analysis for trading signals.

Technical Job Skills

Specialized skills, like coding or modeling, for financial roles.

Technical Skills

Measurable abilities, like data analysis, critical in finance or trading.

Technocracy

System led by technical experts, influencing economic or financial policy.

Technology, Media, and Telecom Sector (TMT)

Industry group including tech, media, and telecom, driving innovation.

Technology Sector

Industry focused on tech development, like software or hardware firms.

Ted Spread

Difference between LIBOR and T-bill rates, signaling credit risk.

Telegraphic Transfers (TT)

Electronic international money transfers, often used in trade.

Temporal Method

Currency translation using current rates for assets, historical for equity.

Tenancy at Sufferance

Tenant staying past lease without permission, risking eviction.

Tenancy-at-Will

Rental agreement terminable by either party, offering flexibility.

Tenancy by the Entirety

Joint property ownership by spouses, with survivorship rights.

Tenancy in Common (TIC)

Property co-ownership with unequal shares, no survivorship rights.

Tenants by Entirety (TBE)

Synonym for tenancy by the entirety, for married couples.

Tender

Offer to buy securities or assets, like in takeovers or auctions.

Tender Offer

Public offer to buy shares at a premium, often for control.

Tenkan-Sen (Conversion Line)

Ichimoku indicator averaging 9-period high and low, signaling trends.

Tenor

Time to maturity of a financial instrument, like a bond or loan.

Term Deposit

Fixed-term bank deposit, like a CD, earning interest.

Term Life Insurance

Life insurance for a set period, no cash value, lower premiums.

Term Loan

Loan with a fixed repayment schedule, often used by businesses.

Term Sheet

Non-binding document outlining deal terms, like in venture capital.

Term Structure of Interest Rates

Yield curve showing rates across different maturities.

Term to Maturity

Time remaining until a bond or loan matures.

Terminal Capitalization Rate

Rate used to estimate property value at the end of a holding period.

Terminal Value (TV)

Future value of cash flows beyond a forecast period, in valuation models.

Termination of Employment

Ending a job, impacting severance or retirement plan access.

Terms of Employment

Conditions of a job, like salary or benefits, affecting finances.

Terms of Trade (TOT)

Ratio of export to import prices, impacting trade balances.

Tertiary Industry

Service-based sector, like finance or healthcare, driving economic activity.

Testamentary Trust

Trust created via a will, effective after death, for estate planning.

Tether (USDT)

Stablecoin pegged to USD, used for crypto trading stability.

Texas Ratio

Bank health metric: non-performing assets divided by tangible equity and reserves.

Tezos

Blockchain platform with self-upgrading features, used in DeFi.

The Greatest Generation

Born 1901-1927, known for economic resilience, impacting savings trends.

Theoretical Ex-Rights Price (TERP)

Stock price post-rights issue, adjusted for new shares.

Theoretical Value (Of a Right)

Value of a rights offering share, based on market price and terms.

Theory of Price

Economic model explaining price determination via supply and demand.

Theory of the Firm

Framework analyzing firm behavior, like profit maximization or cost management.

There Ain't No Such Thing as a Free Lunch (TANSTAAFL)

Principle that all benefits have costs, guiding financial decisions.

Theta

Option’s time decay rate, measuring value loss as expiration nears.

Third Party

External entity involved in financial transactions, like brokers or insurers.

Third-Party Insurance

Coverage for damages caused to others, like auto liability insurance.

Third-Party Transactions

Deals involving an intermediary, like escrow in real estate.

Third World

Outdated term for developing nations, relevant in global investment contexts.

Thomas Malthus

Economist predicting population growth outpacing resources, influencing economic theory.

Three Black Crows

Bearish candlestick pattern with three consecutive declining closes.

Three-Sigma Limits

Statistical range within three standard deviations, used in risk management.

Three White Soldiers

Bullish candlestick pattern with three consecutive rising closes.

Thrift Association

Financial institution focused on savings and mortgages, like credit unions.

Thrift Bank

Bank specializing in savings accounts and home loans, regulated federally.

Thrift Savings Plan (TSP)

Retirement plan for U.S. federal employees, with low-cost funds.

Throughput

Rate of production or transactions, impacting financial efficiency.

Tick

Smallest price movement of a security, like $0.01 for stocks.

Tick Size

Minimum price increment for a security, set by exchanges.

Ticker Symbol

Unique code for a security, like AAPL, used in trading.

Tier 1 Capital

Core bank capital, like equity, supporting financial stability.

Tier 1 Capital Ratio

Tier 1 capital divided by risk-weighted assets, measuring bank strength.

Tier 1 Common Capital Ratio

Common equity Tier 1 divided by risk-weighted assets, a stricter metric.

Tier 1 Leverage Ratio

Tier 1 capital divided by average assets, assessing bank leverage.

Tier 2 Capital

Supplementary bank capital, like subordinated debt, less secure than Tier 1.

Tight Monetary Policy

Central bank actions, like raising rates, to reduce money supply.

Timber Investment Management Organization (TIMO)

Firm managing timberland investments for institutional investors.

Time Decay

Loss of option value as expiration approaches, measured by theta.

Time Deposit

Synonym for term deposit, like a CD, with fixed maturity.

Time Horizon

Expected duration of an investment, guiding risk and strategy.

Time in Force

Duration an order remains active, like day or GTC (good-till-canceled).

Times Interest Earned (TIE)

Earnings before interest and taxes divided by interest, measuring debt coverage.

Time Series

Data points over time, like stock prices, used in financial analysis.

Time Value

Portion of an option’s price from time until expiration, not intrinsic value.

Time Value of Money (TVM)

Principle that money today is worth more than future money due to interest.

Time-Weighted Rate of Return (TWR)

Return measure ignoring cash flow timing, used for portfolio performance.

Times-Revenue Method

Valuing a company by multiplying revenue by an industry-specific multiple.

TINA (There is No Alternative)

Investor belief that stocks are the only viable investment, driving demand.

Tit for Tat

Strategy of reciprocal actions, used in financial negotiations or game theory.

Title Insurance

Insurance protecting against property title defects, like liens.

Title Search

Investigation of property records to confirm clear ownership before sale.

To Be Announced (TBA)

Mortgage-backed securities traded before pool details are finalized.

Tobacco Tax/Cigarette Tax

Taxes on tobacco products, generating government revenue.

Tobin Tax

Proposed tax on currency transactions to reduce speculative trading.

Tokyo Price Index (TOPIX)

Japan’s broad stock index, tracking Tokyo Stock Exchange companies.

Tombstone

Announcement of a securities offering, like an IPO, in publications.

Tomorrow Next (Tom Next)

Forex trade settling the next business day, used in currency swaps.

Tontine

Investment pool paying survivors as participants die, now largely obsolete.

Too Big to Fail

Institutions whose failure would disrupt the economy, often bailed out.

Top Line

Revenue or gross sales, before expenses, on income statements.

Top-Down Analysis

Macro-to-micro analysis, starting with economy or sector, then firms.

Top-Down Investing

Investing based on macro trends, like economic or sector outlooks.

Toronto Stock Exchange (TSX)

Canada’s primary stock exchange, trading equities and ETFs.

Tort Law

Legal system addressing civil wrongs, like fraud, impacting financial disputes.

Total Bond Fund

Fund investing across bond types, offering diversification and income.

Total Cost of Ownership (TCO)

Full cost of an asset, including acquisition, maintenance, and disposal.

Total Debt Service Ratio

Debt payments divided by income, assessing loan affordability.

Total Debt-to-Capitalization

Debt divided by total capital, measuring financial leverage.

Total-Debt-to-Total-Assets

Debt divided by assets, indicating reliance on borrowed funds.

Total Enterprise Value (TEV)

Market cap plus debt minus cash, valuing a company holistically.

Total Expense Ratio (TER)

Fund’s annual operating costs as a percentage of assets, impacting returns.

Total Liabilities

All debts and obligations owed by a company, on balance sheets.

Total Quality Management (TQM)

Continuous improvement of processes, enhancing financial or operational efficiency.

Total Return

Investment return including price appreciation and income, like dividends.

Total Return Index

Index including reinvested dividends, reflecting full investment performance.

Total Return Swap

Derivative swapping total returns of an asset for fixed or floating payments.

Total Shareholder Return (TSR)

Total return to shareholders, including dividends and stock price gains.

Total Utility

Overall satisfaction from consuming goods or services, guiding economic models.

Tracker Fund

Fund mimicking an index, like an ETF, with low fees.

Tracking Error

Difference between a portfolio’s return and its benchmark’s return.

Tracking Stock

Stock tied to a specific business unit, not the entire company.

Trade

Buying or selling assets, like stocks or commodities, in markets.

Trade Credit

Short-term financing allowing buyers to delay payment to suppliers.

Trade Deficit

When imports exceed exports, impacting currency and economic policy.

Trade Finance

Funding for international trade, like letters of credit or factoring.

Trade Liberalization

Reducing trade barriers, like tariffs, to boost economic activity.

Trade Line

Credit account on a credit report, like a credit card or loan.

Trade Sanction

Restrictions on trade with a country, impacting global financial flows.

Trade Secret

Confidential business information, like formulas, providing competitive edge.

Trade Signal

Indicator or event prompting a buy or sell, used in trading.

Trade Surplus

When exports exceed imports, strengthening currency and economy.

Trade War

Escalating trade barriers, like tariffs, between countries, harming markets.

Trademark

Legal protection for brands or logos, impacting company valuation.

Trader

Individual or firm buying/selling securities for profit or clients.

Trading Account

Brokerage account for buying/selling securities, like stocks or options.

Trading Book

Bank’s portfolio of securities held for active trading, not investment.

Trading Desk

Bank or broker team executing trades, managing market activities.

Trading Halt

Temporary pause in a security’s trading, often due to news or volatility.

Trading House

Firm specializing in trading goods or securities, facilitating markets.

Trading Platform

Software for executing trades, like Robinhood or MetaTrader.

Trading Strategy

Plan for buying/selling securities, based on technical or fundamental analysis.

Trading Session

Period when markets are open for trading, like 9:30 AM-4:00 PM.

Traditional IRA

Retirement account with tax-deductible contributions, taxed on withdrawal.

Tragedy of the Commons

Overuse of shared resources, like fisheries, harming economic value.

Trailing 12 Months

Financial metrics for the past 12 months, used for analysis.

Trailing Price-to-Earnings (Trailing P/E)

Stock price divided by past 12 months’ earnings, for valuation.

Trailing Stop

Stop-loss order adjusting with price, locking in gains or limiting losses.

Tranches

Portions of a security or loan, like in securitizations, with different risks.

Transaction

Exchange of goods, services, or assets, recorded in financial systems.

Transaction Costs

Fees or expenses, like commissions, incurred during financial trades.

Transaction Exposure

Risk from currency fluctuations in international transactions.

Transaction Fees

Charges for financial transactions, like trading or wire transfers.

Transfer Agent

Entity managing shareholder records and dividend payments for companies.

Transfer of Risk

Shifting risk, like through insurance or hedging, to another party.

Transfer on Death (TOD)

Account designation transferring assets to a beneficiary upon death.

Transfer Payment

Government payments, like welfare, not tied to goods or services.

Transfer Price

Price charged between related entities, like subsidiaries, for goods/services.

Transfer Pricing

Setting transfer prices, often scrutinized for tax avoidance.

Transfer Tax

Tax on asset transfers, like real estate or securities, at sale.

Transferable Letters of Credit

Letters of credit assignable to another party, used in trade.

Translation Exposure

Risk from converting foreign currency financials to home currency.

Transparency

Clear disclosure of financial information, enhancing investor trust.

Transportation Sector

Industry including airlines, railroads, impacting logistics and trade costs.

Transposition Error

Accounting mistake from swapping digits, like 53 for 35.

Traunch

Portion of funding released in stages, common in venture capital.

Travel Expenses

Business-related travel costs, often tax-deductible, like flights or hotels.

Travel Insurance

Coverage for trip-related risks, like cancellations or medical emergencies.

Traveler's Check

Prepaid check for travel, widely accepted, replaced by cards.

Treasury Bills (T-Bills)

Short-term U.S. government debt, maturing in under a year.

Treasury Bond (T-Bond)

Long-term U.S. government debt, maturing in 10+ years.

Treasury Direct

U.S. platform for buying Treasuries directly, bypassing brokers.

Treasury Inflation-Protected Security (TIPS)

U.S. bonds with principal adjusted for inflation, protecting purchasing power.

Treasury Notes

Medium-term U.S. government debt, maturing in 2-10 years.

Treasury Stock (Treasury Shares)

Shares repurchased by a company, reducing outstanding stock.

Treasury Stock Method

Calculating diluted EPS including stock options or convertible securities.

Treasury STRIPS

Zero-coupon bonds created from Treasury securities, sold at a discount.

Treasury Yield

Yield on U.S. Treasury securities, a benchmark for interest rates.

Treaty Reinsurance

Ongoing reinsurance contract covering specific risks or portfolios.

Trend

General direction of price or market movement, like bullish or bearish.

Trend Analysis

Studying past data to predict future financial or market trends.

Trend Trading

Trading based on the direction of market trends, using technical indicators.

Trendline

Line on a chart connecting price points, showing trend direction.

Treynor Ratio

Risk-adjusted return, dividing excess return by beta (systematic risk).

Trial Balance

Accounting report listing account balances to check ledger accuracy.

Triangle

Chart pattern (ascending, descending, symmetrical) signaling trend continuation or reversal.

Triangular Arbitrage

Profiting from currency price discrepancies across three pairs in forex.

Trickle-Down Theory

Economic theory that tax cuts for wealthy boost investment, benefiting all.

Triggering Event

Event prompting action, like a default triggering a loan call.

Trilemma

Economic trade-off among three conflicting goals, like monetary policy options.

Trillion Cubic Feet (Tcf)

Natural gas volume measure, used in energy markets.

Trimmed Mean

Average excluding extreme values, used in inflation or financial data.

Triple Bottom

Bullish chart pattern with three price lows, signaling reversal.

Triple Bottom Line (TBL)

Measuring business success via social, environmental, and financial performance.

Triple Exponential Moving Average (TEMA)

Smoothed moving average, reducing lag for faster trend signals.

Triple Net Lease (NNN)

Lease where tenant pays taxes, insurance, and maintenance, reducing landlord costs.

Triple Top

Bearish chart pattern with three price highs, signaling reversal.

Triple Witching

Quarterly expiration of options, futures, and index options, causing volatility.

Troubled Asset Relief Program (TARP)

2008 U.S. program bailing out banks with $700 billion during the crisis.

Trough

Lowest point in an economic cycle, before recovery begins.

Troy Ounce

Weight measure for precious metals, like gold, at 31.1035 grams.

True Strength Index (TSI)

Momentum oscillator combining price and volume for trading signals.

Trust

Legal arrangement holding assets for beneficiaries, managed by a trustee.

Trust Company

Firm managing trusts, estates, or fiduciary services for clients.

Trust Deed

Document securing a loan with property, like a mortgage, held by a trustee.

Trust Fund

Assets held in trust for beneficiaries, often for wealth transfer.

Trust Indenture

Agreement governing bond terms, protecting bondholders’ rights.

Trust Preferred Securities (TruPS)

Hybrid securities with debt and equity traits, issued by trusts.

Trust Property

Assets held in a trust, managed for beneficiaries’ benefit.

Trust Receipts

Document acknowledging goods held in trust for a lender, in trade finance.

Trustee

Person or entity managing trust assets for beneficiaries, with fiduciary duty.

Truth in Lending Act (TILA)

U.S. law requiring clear disclosure of loan and credit terms.

TSA PreCheck

U.S. program for expedited airport security, impacting business travel costs.

Turnaround

Recovery of a struggling company or economy, improving financials.

Turnkey Asset Management Program (TAMP)

Outsourced platform for advisors, managing client portfolios efficiently.

Turnkey Business

Ready-to-operate business, requiring minimal setup, like franchises.

Turnkey Property

Fully renovated property, ready for immediate use or rental.

Turnkey Solution

Complete financial or operational system, ready for immediate use.

Turnover

Revenue, employee churn, or asset trading frequency, depending on context.

Turnover Ratio

Metric like inventory or receivables turnover, measuring operational efficiency.

Tweezer

Candlestick pattern (top/bottom) signaling potential price reversal.

Twenty Eight Thirty Six Rule (28/36 Rule)

Mortgage guideline limiting housing debt to 28% and total debt to 36% of income.

Two and Twenty

Hedge fund fee structure: 2% management fee, 20% performance fee.

Two-Bin Inventory Control

System using two inventory bins, reordering when one is empty.

Two-Tailed Tests

Statistical test checking for effects in both directions, used in finance.

Two-Way ANOVA

Statistical test analyzing two variables’ impact, used in financial research.

Tying

Requiring a buyer to purchase one product to get another, often illegal.

Type I Error

Incorrectly rejecting a true null hypothesis, impacting financial analysis.

Type II Errors

Failing to reject a false null hypothesis, skewing financial conclusions.

tZero

Blockchain-based platform for trading digital securities, enhancing efficiency.