Specialness

Definition:

Difference between interest earned on a specific stock loan's collateral and the prevailing interest rate for stock loan collateral. A typical stock has specialness equal to zero. When there is positive specialness, a stock is said to be on special.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Insured account

A bank or financial account that is insured for the benefit of the depositor, protecting against loss in the event that the savings institution becomes insolvent. See: FDIC.

Subscribe to the Term of the Day via email Get the Term of the Day in your inbox!


Create your free portfolio