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SMThe two-character ISO 3166 country code for SAN MARINO.SM Similar MatchesInternational Security Market Association (ISMA)International Security Market Association (ISMA)Swiss law association located in Zurich that regroups all the participants on the Eurobond primary and secondary markets. Establishes uniform trading procedures in the international bond markets. Small investorSmall investorAn individual person investing in small quantities of stock or bonds. This group of investors makes up a minimal fraction of total stock ownership. Small capSmall capOne of a trio of terms commonly used to rank companies according to their size, the others being 'mid cap' and 'large cap'. 'Cap' is short for 'market capitalisation' which is calculated by multiplying the number of shares which a company has in issue by the current market price. So a company with 500 million shares in issue and a share price of 50p has a market cap of £250 million.This would probably make it a small cap, but there are no fixed rules about where the thresholds lie. 'Small cap', for instance, can refer to companies with market capitalisations of just £50 million or as much as £500 million.Of course, market cap is a moveable feast. If an AIM company is tipped in a Sunday newspapers, and its shares rise 30%, its market cap might leap from one side of the threshold figure to the other. Overnight it could turn from a small cap to a mid cap, even though its sales and earnings are the same.Some commentators argue that market cap isn't a very good measure of whether a company is big or small. A hot stock company might have a £1,000m market cap, but if it has sales of £500,000 and makes a big loss, can it really be described as a large company?Perhaps a better way of identifying a small cap is to leapfrog the whole question of market cap, and concentrate instead on the features that attach to this sort of company. They are:lack of researchwide bid-offer spreadspoor liquidityThat's a pretty negative way of looking at small caps, but it has the advantage of being realistic. Exchange Rate Mechanism (ERM)Exchange Rate Mechanism (ERM)The methodology by which members of the EMS maintain their currency EMS within an agreed-upon range with respect to other member countries. Dispute settlement mechanismDispute settlement mechanismThe procedure by which the WTO settles disputes among members, primarily by means of a three-person panel that hears the case and issues a report, subject to review by the Appellate Body. Further SuggestionsSpecial assessment bondSmall cap Smart money Determinism Exchange Rate Mechanism Geneticalliy modified organism Crony capitalism Stripped mortgage backed securities (SMBS) SMAC function Smuggle Communism Neoliberalism SMBS Specie flow mechanism Smoot-Hawley Tariff money transmission Small Order Execution System (SOES) Dialing and smiling Balance of payments adjustment mechanism Standard & Poors SmallCap 600 Index Small open economy Protectionism Patriotism argument for protection Price specie flow mechanism SMS |
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