RIGHTS, generally, is an entitlement to something, whether to concepts like justice and due process or to ownership of property or some interest in property, real or personal. In securities, it is a securities offering that gives the stockholder an option to purchase additional shares at a predetermined price. Frequently, the stock can be traded with the rights attached.
ARBITRAGE is the movements of funds to take advantage of differences in exchange or interest rates; such movements quickly eliminate any such differences.
ACCRUAL BOND is a bond on which interest accrues, but is not paid out to the investor during the time of accrual; instead, the accrual interest is added to the amount of remaining principal and paid at maturity. Also known as an accretion bond or a Z-bond in a CMO issue. See Collateralized Mortgage Obligation.
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