G

Gamma

The rate at which a delta changes over time.

Gearing

A company's debts expressed as a percentage of its equity capital.

Geldkurs

The bid price on German and Swiss exchanges.

Genussscheine

Dividend right certificate (German and Swiss stock exchanges). Security incorporating the right to participate in the net profit and the liquidation proceeds of a company as well as the right to subscribe to new shares in the case of a rights issue. However, the holder has no membership rights, in particular he cannot attend shareholder meetings. The dividend-right certificate may be in bearer or registered form.

Geregelter Markt

The regulated market section of the German stock exchanges.

Gilt edged

(i) In the UK, loans issued on behalf of the government to fund its spending. Longs are gilts with a redemption date greater than 15 years. Mediums are those with a redemption date between 5 and 15 years. Shorts are those with a redemption date within 5 years.
(ii) In the US top-quality stocks issued by corporations with a known record for profit and of paying dividends over the years. In the US, the term also refers to high-quality bonds.

Ginnie Mae

Securities issued by the Government National Mortgage Association (GNMA) of the US.

Giovannini Group

The Giovannini Group was formed in 1996 to advise the European Commission on issues relating to EU financial integration and the efficiency of euro-denominated financial markets. The Group consists of financial-market participants and meets under the chairmanship of Dr. Alberto Giovannini. The Commission’s Directorate-General for Economic and Financial Affairs provides the secretariat, with officials from the Directorate-General for the Internal Market and from the European Central Bank (ECB) also supporting the Group's work.

Global Depositary Receipt (GDR)

Certificate, denominated in US dollars, which represents ownership of a given number of a company's shares and which can be listed and traded independently from the underlying shares.

Going long

The purchase of a stock or commodity for investment or speculation.

Going short

The selling of a stock or commodity not owned by the seller.

Green shoe

A provision in an underwriting agreement that if there is an exceptional public demand, an issuer will authorise additional shares for distribution by the syndicate.

Greenmail

The situation by which a large block of stock is held by an unfriendly company, which forces the target company to repurchase the stock at a substantial premium to prevent a takeover.

Grey market

The market in a new issue prior to formal offering.

Gross

Before deduction of tax.

Grossing-up

Calculating a gross or pretax rate of interest or dividend by adding a notional amount of tax to the net, or post-tax amount received.