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Next Accrued Interest

The net interest accrued on a bond since its last ex-dividend date. The following formula is usually used to calculate...

Non-Detachable Warrant

A warrant that cannot be separated from its carrier bond and cannot be traded as a standalone security. It is...

Non-Recourse Leverage

The leverage in which the so-called non-recourse borrowing is used. It is not backed by collateral posted by the borrower....

NSJ Bond

It stands for non-sticky jump bond; a collateralized mortgage obligation that may change priority to receive principal if certain conditions...

Negative Equity

An equity that has a negative value. This situation arises when an asset is worth less than the money used...

Netting By Novation

The process that is typically arranged at the contract date (not at settlement date) for the purpose of replacing all...

Net Basis

The basis amount that results from adjusting the gross basis for net carry. Net carry is the actual coupon income...

Negotiable Instrument

A written instrument which is signed by its maker (the drawer) and contains an unconditional promise or order to pay...

NFT

It stands for non-fungible token; a type of cryptographic asset whose ownership is established by a unique digital certificate held...

Non-Fungible Token

A type of cryptographic asset whose ownership is established by a unique digital certificate held as an entry on blockchain....