Browse 'M'
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1. M1


One measure of the money supply that includes all coins, currency held by the public, traveler's checks, checking account balances, NOW accounts, automatic transfer service accounts, and balances in credit unions.


See Also

M2, M3, broad money, narrow money


2. M2


One measure of the money supply that includes M1, plus savings and small time deposits, overnight repos at commercial banks, and non-institutional money market accounts. A key economic indicator used to forecast inflation.


See Also

M3, broad money


3. M3


One measure of the money supply that includes M2, plus large time deposits, repos of maturity greater than one day at commercial banks, and institutional money market accounts.


See Also

M1, extended broad money


4. Macaulay Duration


The weighted-average term to maturity of a bond's cash flows. The weighting is based on the present value of each cash flow divided by the price. This is one of two ways to calculate duration, the other being modified duration.

5. MACD


Moving Average Convergence/Divergence. Technical analysis term for the crossing of two exponentially smoothed moving averages.

6. macro


Large, or pertaining to an entire system. opposite of micro.

7. macroeconomics


The study of the behavior an economy at the aggregate level, as opposed to the level of a specific subgroups or individuals (which is called microeconomics). For example, a macroeconomist might consider the industrial sector, the services sector or the farm sector, but he/she will not consider specific parts of any of these sectors. Factors studies include inflation, unemployment, and industrial production, often with the aim of studying the effect of government policy on these factors.


See Also

economics, monetary


8. macro-hedge


Hedge designed to reduce or eliminate risk for an entire entity. opposite of micro-hedge.

9. MACRS


Modified ACRS. Depreciation methods applied to assets placed in service after 1986; less favorable than the earlier ACRS system.


See Also

Accelerated Depreciation


10. maintenance


Cash and/or securities deposited in a brokerage account to fulfill the margin requirements of the brokerage and NASD.


See Also

house maintenance requirement, health maintenance organization, remargining


11. maintenance bond


Bond guaranteeing against defects for a specified time period following the completion of a contract.

12. maintenance call


see margin call.

13. maintenance fee


A charge assessed on some types of brokerage accounts, at a fixed frequency, usually annually.


See Also

inactive account


14. major medical insurance


Insurance that covers most serious medical expenses up to a maximum limit, usually after a deductible and coinsurance have been met.

15. majority ownership


Ownership of more than 50% of a company's voting stock; or somewhat less, if the remaining ownership is sufficiently spread out.


See Also

controlling interest, direct investment


16. majority shareholder


A single shareholder who controls more than half of a corporation's outstanding shares, or sometimes, one of a small group of shareholders who collectively control more than half of a corporation's outstanding shares.


See Also

minority ownership, direct investment


17. make a market


To be ready, willing and able to buy or sell a particular security as a dealer. The individual who does this is called a specialist if the security is listed, or a market maker if the security is traded over-the-counter.


See Also

two-sided market


18. make whole provision


A provision that allows a borrower to prepay the remaining fixed rate term debt. However, the borrower has to make an additional payment that is derived from a formula based on the net present value of the future debt payments. This can often be significant, which is why such provisions are rarely invoked.

19. maker


The manufacturer of a product. also called producer.

20. making delivery


see delivery.


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