Word: indexable
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Leeson started buying and selling the simplest kind of derivatives, futures pegged to the Nikkei 225, an index of the value of 225 Japanese stocks that is Japan's equivalent of the Dow Jones Industrial Average. It was a straightforward process: in effect, Leeson placed open-ended bets on what would happen to billions of dollars worth of Japanese stocks and bonds. His wager was similar to what gamblers in Las Vegas betting on a football game call the over and under-meaning a bet on whether the final score of a football game will be above or below...
...only your) bank, or knowing the corner shopkeeper well enough to cash a personal check. The ATM changed all that, using a fusion of computer chips, telepad, phone line and dispensing mechanism to transform the way people access their money. Armed with only a plastic card and a functioning index finger, a customer can now obtain cash as easily in Tierra del Fuego as in downtown Tulsa...
Such realizations punctured some of the early forecasts of a silver lining in Kobe's tragedy. Even as heavily hit manufacturers like Kobe Steel had to absorb further jolts on the stock market, construction-industry issues were hot prospects on the Tokyo exchange. After the Nikkei index's steep dip early last week, bidding on these shares helped the exchange recover 318 points by the close of trading on Friday. But the boomlet of hope in the ashes was not enough to convince more sober heads...
Several subcontractors in the six Asiancountries, including their environmentalprotection agencies, will help compile the largeamount of data needed to formulate the index,Harrington says...
...Asian Development Bank, one of the two mainsponsors of the project, will use the newenvironmental index in its annual allocation ofsome four billion dollars in loans, half of whichmust go toward investments which addressenvironmental, population and poverty concerns,says Nagaraja R. Harshadeep, a graduate student inenvironmental engineering...