Glossary of Terms

  • Nasdaq

    A US market dominated by large technology stocks such as Microsoft, Cisco Systems and Yahoo!. It stands for National Association of Security Dealers Automated Quotations.
  • Net Asset Value (NAV)

    This is an accounting ratio, which is caluclated by dividing the net assets of an entity by the number of shares or units in issue.
  • Nominal Value

    Is also known as the "par" or "face" value, and is mainly used for book-keeping purposes by the company. For example, ordinary 50p shares or preference £1 shares.
  • Nominee

    An organisation in whose name a security is registered; however the true ownership is held by the underlying shareholder. This is usually described as a non-trading company, to ensure there is no risk to the client's assets.
  • Non-Cumulative Preference Shares

    If the company fails to pay a preference dividend, the entitlement to that dividend is simply lost. There is no accumulation of the dividends that have not been paid.
  • Normal Market Size

    See Exchange Market Size

  • NYSE

    The New York Stock Exchange (NYSE), the world's largest stock exchange.