Packing List - A highly-detailed list describing the weight, volume, content and packaging for each separate export package.

Par - The full principal amount of an investment instrument.

Paying Bank (or Paying Agent) - The bank that reviews the documents presented by the exporter and arranges payment to the exporter, if they conform to the terms and conditions of the documentary credit.

Performance Bond (Guarantee) - A bond or guarantee which has been issued as security for one party’s performance: if that party (the principal) fails to perform the beneficiary under the bond/guarantee may obtain payment. A performance bond may be of either the demand or conditional variety, which means that the beneficiary may or may not be required to prove default by the principal in order to obtain payment.

Pessimistic Rate of Return - A statistic that adjusts the usual wins/losses statistic to estimate the worst return from trading results.

Phase Delay - The time lag that a filter falls behind the pre-filtered data.

Phasor - Used to describe the frequency, amplitude, and phase of all frequency components of the signal.

Point/Pip - The last decimal place of an exchange rate quotation.

Position Management Ration - The ratio of profits extracted on winning transactions versus losses suffered on trades that liquidate unprofitably.

Preprocessing - Altering data to some extent to be more accurately analyzed; smoothing, reducing unwanted data, removing trend.

Presentation - The act of presenting a bill of exchange or documents for acceptance, payment or negotiation.

Price to Sales Ratio - The price of a stock divided by sales-per-share of the company in the most recent fiscal year.

Price/Earnings Ratio - The price of a stock divided by sales-per-share of the company in the most recent fiscal year.

Probability Density Function - A graph showing the probability of occurrence of a particular data point (price).

Profit Margin Expansion - In long-term reference, a measure of a company's net profit margin in the latest reported quarter divided by profit margin in the fiscal year previous.

Profit Taking - Selling tradables that have appreciated since initial purchase in order to take advantage of the appreciation.

Promissory Note - An unconditional written promise to pay a specified sum of money on demand or at a specified date to, or to the order of, a specified person, or to bearer. Promissory notes are negotiable instruments and perform more or less the same function as an accepted bill of exchange.

Pyramid - To increase holdings that an investor has by using the most buying power available in a margin account with paper and real profits.