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Financial Glossary

WALL STREET

Generic term for the securities industry firms that buy, sell, and underwrite securities

WARRANT

A security entitling the holder to buy a proportionate amount of stock at some specified future date at a specified price, usually one higher than current market price. Warrants are traded as securities whose price reflects the value of the underlying stock

WHOLESALE PRICE INDEX

It measures changes in prices in the manufacturing and distribution sector of the economy and tends to lead the consumer price index by 60 to 90 days. The index is often quoted separately for food and industrial products

WORKING CAPITAL

The difference between current assets and current liabilities

WORKING DAY

A day when the banks in a currency's principal financial center are open for business

WORLD BANK

A bank made up of members of the IMF whose aim is to assist in the development of member states by making loans where private capital is not available

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