SI
Settlement instruction
SIB
Securities and Investment Board【UK】
SIMart
Simulated Investment Market
SMARTS
Securities Market Automated Research, Training & Surveillance System
SME Board
Small and Medium Enterprise Board【Shenzhen Stock Exchange】
SME Board
In May, 2004, the launch of the Small and Medium Enterprises Board (hereafter “SME Board”) is an important step to facilitate phase-in launch of the New Market. The aim of the SME Board is to provide a direct financing platform for the small and medium enterprises with a prominent core business and hi-tech contents.
SMFP
Share margin finance provider
SOES
Small Order Entry System/Small Order Execution System【US】
SPAN
Standard Portfolio Analysis of Risk
SPDR
Standard & Poor’s Depository Receipt
Specialist
Member of a stock exchange who maintains a fair and orderly market in one or more securities. A specialist performs two main functions: executing LIMIT ORDERS on behalf of other exchange members for a portion of the floor broker’s commission, and buying or selling -sometimes selling short-for the specialist’s own account to counteract temporary imbalances in supply and demand and thus prevent wide swings in stock prices. The specialist is prohibited by exchange rules from buying for his own account when there is an unexecuted order for the same security at the same price in the specialist’s book, the record kept of limit orders in each price category in the sequence in which they are received. Specialists must meet strict minimum capital requirements before receiving formal approval by the New York Stock Exchange.
Spin Off
The separation of a subsidiary or division of a corporation from its parent by issuing shares in a new corporate entity. Shareowners in the parent receive shares in the new company in proportion to their original holding and the total value remains approximately the same.
Spread
The difference between the current bid and the current ask of a given security; also called bid/ask spread.
SRN
Shareholder Reference Number
SRO
Self-Regulatory Organization. Describes a national securities exchange, registered securities association, or registered clearing agency authorized by the Securities Exchange Act of 1934 to regulate the conduct and activities of its members, subject to oversight by a specified government regulatory agency.
SSAP
Statement of Standard Accounting Practice
SSE
Shanghai Stock Exchange
S-share
The share of a Mainland Chinese company listed on the Singapore Stock Exchange.
ST shares
On April 22, 1998, Shanghai and Shenzhen Stock Exchanges announced that according to the stock listing rules, implemented in 1998, they would give special treatment to the stocks of listed companies with abnormal financial conditions. Because the initials of “Special Treatment” are “ST”, these listed shares are called ST shares.
*ST shares
*ST shares are referring to the “Special Treatment (ST)” companies listed in either Shenzhen or Shanghai Stock exchanges that have received a delisting warning from the exchange. The ST shares will be marked with * when a company failed to comply with certain rules posed by the exchange during the period of “Special Treatment”.
Stamp duty
Duty payable to State governments on share transactions.
STAQS
Securities Trading Automated Quotation System【Mainland China】
State share
Chinese company’s shares held by Chinese government prior to IPO. State shares are not tradable in China stock market.
Stock Exchange
An organized marketplace for securities featured by the centralization of supply and demand for the transaction of orders by member brokers for institutional and individual investors.
Strike price
See exercise price.
Swap
An exchange of streams of payments over time according to specified terms. The most common type is an interest rate swap, in which one party agrees to pay a fixed interest rate in return for receiving a adjustable rate from another party.
SWIFT
Society for Worldwide Interbank Financial Telecommunications
SZSE
Shenzhen Stock Exchange