Archives

A long-term debt instrument issued by corporations or governments that is backed only by the integrity of the borrower, not by collateral. A debenture is unsecured and subordinate to secured debt. A debenture is unsecured in that there are no liens or pledges on specific assets.

The price paid per $100 of a debt instrument’s face value traded. A debt instrument trading at par would have a price of $100. A price below face value (for example, $99.1) indicates that the debt instrument has traded at a discount. A price above face value (for example, $101.1) indicates that the debt instrument has traded at a premium.

Total long term debt divided by total shareholder equity.

The maximum price advance or decline permitted for a futures contract in one trading session compared to the previous day’s settlement price.

The highest price that a security has traded at during the day.

The lowest price that a security has traded at during the day.

An order that is valid only for the day it is entered. If the order is still outstanding when the market closes, it will be purged overnight.

With dividend. The owner of shares purchased cum dividend is entitled to an upcoming already-declared dividend. The opposite of this is ex dividend.

With rights. The owner of shares purchased cum rights is entitled to forthcoming, already-declared rights. The opposite of this is ex rights.

The trading day before the ex-dividend/distribution (ex-d) date. It is the last day on which the securities can be traded and on which the buyer is entitled to the dividend/distribution.