Page 166 - PRIAA Glossary

THUNDERHEAD NOW
A technology platform used for over-the-counter (OTC) trade confirmations and term sheet generation. Thunderhead NOW provides the straight-through-processing support required for automating back-office document generation, such as OTC trade confirmations, while also providing real-time exception handling of documents required for the front office and operations areas. Thunderhead NOW also provides integrated support for industry standards, such as FpML and the DTCC Deriv/SERV electronic matching process.
TICK
The minimum price movement of a financial contract, expressed in fractions of a point.
TIE OUT
The process where bronze records are matched in the DTCC Trade Information Warehouse. These matched trades are not legally binding and are known as bronze records (as opposed to gold records which are legally binding).
TIME CHARTER
A contract in which the charterer pays a fixed daily or monthly rate for a fixed period of time for use of the vessel. The charterer typically has the use of the vessel for world- wide trading. The charterer pays all voyage expenses such as fuel, canal tolls and port charges. The ship owner pays all vessel expenses such as technical management costs, insurance and crewing.
TIME CHARTER EQUIVALENT (TCE)
The daily return to a ship owner after voyage expenses
such as port and fuel expenses are paid. TCS serves as an industry standard for measuring and managing fleet revenue and benchmarking results between various trades and among competitors.
TIME LIMIT ORDER
A customer order that designates the time during which it can be executed, after which it is cancelled.
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