The London Interbank Offered Rate (LIBOR) is a benchmark interest rate at which major global banks lend to one another in the international interbank market for short-term loans. LIBOR serves as a globally accepted key benchmark interest rate that indicates borrowing costs between banks. The rate is calculated and published each day by the Intercontinental Exchange (ICE).

The Financial Conduct Authority (FCA) is the independent financial regulator responsible for the functioning of the U.K.'s financial markets. The goal of the organization is to ensure honest and fair markets for individuals, businesses, and the economy as a whole. The Authority does this by protecting consumers, protecting the financial markets, and promoting competition. The FCA falls under the purview of the Treasury, which is responsible for the UK's financial system, and the Parliament.

The Financial Services Authority (FSA) regulated financial services in the United Kingdom between 2001 and 2013. Following the financial crisis of 2008, government officials decided to revise the regulatory structure of the financial markets in the U.K, and the regulatory authority was divided into the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) of the Bank of England in 2013.

A large retail bank that has many branch locations, such as those found in the main commercial sector of a town or city and offer everyday banking services such as deposit accounts and credit facilities to consumers and businesses. People generally refer to high street banks as such to differentiate them from other institutions such as investment banks.

A type of lottery-based savings account that offer a chance to win tax-free prizes every month, instead of paying interest. You can buy them from the government’s National Savings and Investments (NS&I) agency, which is backed by H.M. Treasury and secures 100% of your savings.

The City of London Corporation, also known as the Corporation of London, is the governing body for the Square Mile, known as the City of London (or just "City"), the historic and financial district of London. It spans 1.1 square miles at the heart of Greater London, and is considered the world's oldest continuous municipal government.

A rule in the U.K. that permits market makers to trade outside quoted ranges when an exchange determines that market movements are so sharp that quotes cannot be kept current. It's intended to maintain an orderly market during a time of chaos. Under the rule, market makers must turn off their computerized trading systems (called black boxes). They do not have to quote share prices based on the London Stock Exchange's screen prices while the fast market is in effect, but they are still required to make firm quotes.

GBP is the abbreviation for the British pound sterling, the official currency of the United Kingdom, the British Overseas Territories of South Georgia, the South Sandwich Islands, and British Antarctic Territory and the U.K. crown dependencies the Isle of Man and the Channel Islands. The most common trading pairs involving the British pound are the euro (EUR/GBP) and the U.S. dollar (GBP/USD).

A CDC)Plan, also known as a target benefit or defined ambition plan, is a retirement savings plan available in the U.K. where contributions are pooled together and invested to provide members with an income during retirement. Unlike a traditional defined contribution (DC) plan, a CDC plan spreads investment risk among all plan members.