P - Learn the meaning of the financial term.

The online dictionary of financial terms

1	Pari Passu Side by side, at the same rate Pari passu is a Latin phrase that literally means “with an equal step” or “on equal footing”. Example: This new issue of shares rank pari passu with all shares issued earlier by the company. This means that all shares carry equal rights.
2	Paydown The state reached when an entity (e.g. a company or a government) is repaying more debt than it is borrowing.
3	Payee The receiver of a payment.
4	Payer Of Fixed In the interest rate swap market, the payer of fixed is the party who pays the fixed interest rate and receives the floating rate from the other party.
5	Perpetual Bond A perpetual bond has no maturity date. It will pay interest indefinitely and the principal will never be paid back by the bond issuer.
6	Positive Carry When the financing cost of a position is smaller than the return.
7	Profits Warning When a quoted company expects its profits figure to be lower than the consensus forecast of analysts who follow the stock, the company announces this in the form of a profits warning.
8	Program Trading Program trading is a type of trading in securities executed by a computer program. Typically, the trade of more than a dozen selected instruments will be executed simultaneously by the computer program as soon as certain predetermined conditions occur. Program trading is often an integral part of stock trading for large institutional investors pursuing arbitrage strategies. Program trading can be used to arbitrage temporary price discrepancies between related financial instruments.
9	Protection Applied A term used by the London Stock Exchange to denote that a transaction was protected at the time of reporting it.
10	Put Option A put option gives the holder a right but not an obligation to sell a stated quantity of the underlying instrument at a predefined price. It can for instance be a certain number of shares in a certain company or a certain amount of a commodity. The opposite of a put option is a call option. A call option (also known as callable option) gives the holder a right but not an obligation to buy a stated quantity of the underlying instrument at a predefined price.