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Glossary of financial terms
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EXPLANATION OF FINANCIAL TERMS

Occupational pension scheme

A scheme provided by an employer, often called a company scheme.

Offex

Off exchange is an unregulated small companies stockmarket operated outside the Stock Exchange. Companies quoted on Offex carry a much higher risk.

Offshore fund

A fund that is outside UK jurisdiction, for example in the Channel Islands or Luxembourg

Offshore investments

Investments that are sold and run by companies licensed by an offshore tax haven, such as Jersey, Guernsey, and the Isle of Man.

OEICS

Open-ended investment companies are expected to take over from unit trusts in the next few years. The main difference is that they will have a single price at which savers can invest or redeem their holdings. However, investors may still have to pay a charge in addition to the stated price, an expense which is currently included in the difference between the bid and offer prices on unit trusts.

Open market option

The freedom of personal pension holders at retirement to transfer their pension fund to which ever insurer offers best annuity rates.

Option

The right, but not the obligation, to buy or sell shares at a future date. If you buy a call option you think the price will go up and you agree to buy the shares. Conversely if you take out a put option you are giving yourself the right but not the obligation to sell. Plainly the owner of a put option thinks the share price will fall.

Order book

The Stock Exchange Electronic Trading Service.

 


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