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Rather than simply acting as an agent, an investment bank or other underwriters directly purchase securities from the issuer, usually at a discount to the market price, and then sells them to investors.

A dividend/distribution paid in addition to the regularly established dividend/distribution of the issuer. Like all dividends/distributions, it may be paid in securities or cash and the amount, payable date, and record date are established by the issuer. The exchange that the issue is listed on sets the ex-dividend/distribution (ex-d) date for entitlement. Extra dividends/distributions are sometimes referred to as special dividends/distributions.

A type of underwriting where the brokerage firm acts as principal. The brokerage firm risks its own capital to purchase all of the securities to be issued. If the price of the securities decreases before the brokerage firm has had a chance to resell the securities to its clients, the firm absorbs the loss.

Charges for items that are both unusual in nature and infrequent in occurrence, such as earthquake-related losses. 

The ratio of a company’s new orders to shipments in the same period. A book to bill ratio greater than 1.0 indicates sales growth. Ratios less than 1.0 reflect shrinking sales. Used mostly in the semiconductor industry.

A listed issuer that has satisfied listing requirements as outlined in Section 502 of the Listing Requirements Manual. An exempt issuer is not subject to special reporting rules. This status is generally reserved for senior listed issuers.

Orders that do not trade immediately upon entry. These orders are also known as outstanding orders.

Exponential moving averages place more weight upon the later moves in the time period than the earlier moves. We use exponential on our short-term moving averages (10 and 18) as we are using them as indicators for short term plays and want to see the latest trend in movement the best we can. It is also known as “exponentially weighted moving average”.

After-tax earnings. Literally, the bottom line on an income statement (a.k.a. net income or profit). 

A form of prospectus that allows a company to conduct a prospectus offering through the facilities of a stock exchange, rather than issuing them directly to the public. The company then applies to list the securities on the exchange.