Fannie Mae to Good Until Cancelled Order

Fannie Mae. The acronym for the Federal National Mortgage Association, which buys mortgages on the secondary market, repackages them and sells off pieces to investors. The effect is to infuse the mortgage markets with fresh money.
Fixed-income investment. A catch-all description for investments in bonds, certificates of deposit and other debt-based instruments that pay a fixed amount of interest.
401(k) plan. An employer-sponsored retirement plan that permits employees to divert part of their pay into the plan and avoid current taxes on that income. Money directed to the plan may be partially matched by the employer, and investment earnings within the plan accumulate tax-free until they are withdrawn. The 401(k) is named for the section of the federal tax code that authorizes it.
403(b) plan. Similar to 401(k) plans, but set up for public employees and employees of nonprofit organizations.
Freddie Mac. The acronym for the Federal Home Loan Mortgage Corporation; it operates similarly to Fannie Mae.
Front-end load. The sales commission charged at the time of purchase of a mutual fund, insurance policy or other product.
Full-service broker. A brokerage firm that maintains a research department and other services designed to supply its individual and institutional customers with investment advice.
Fundamental analysis. Study of the balance sheet, earnings history, management, product lines and other elements of a company in an attempt to discern reasonable expectations for the price of its stock. For contrast, see technical analysis.
Futures contract. An agreement to buy or sell a certain amount of a commodity (such as wheat, soybeans or gold) or a financial instrument (such as Treasury bills or deutsche marks) at a stipulated price in a specified future month, which may be as much as nine months away. As the actual price moves closer to or further away from the contract price, the price of the contract fluctuates up and down, thus creating profits and losses for its holders, who may never actually take or make delivery of the underlying commodity.
Ginnie Mae. The acronym for the Government National Mortgage Association, which buys up mortgages in the secondary market and sells them to investors via securities known as pass-through certificates.
Good-till-canceled order. An order to buy or sell a security at a specified price, which stays in effect until it is executed by the broker because that price was reached, or until it is canceled by the customer.