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Securities that represent part ownership in a company and generally carry voting privileges. Common shareholders may be paid dividends, but only after preferred shareholders are paid. Common shareholders are last in line after creditors, debt holders and preferred shareholders to claim any of a company’s assets in the event of liquidation.

Any business day on which the clearing corporation is open to effect trade clearing and settlement.

The trading number of the clearing Participating Organization or Member.

An order from a retail customer of a Participating Organization.

Investors buy shares from other share holders, and sell shares to other investors. Share price is determined by supply and demand for fund shares (as opposed to Net Asset Value for open-end Funds). 

Settlement of an option contract not by delivery of the underlying shares, but by a cash payment of the difference between the strike or exercise price and the underlying settlement price.

The physical document that shows ownership of a bond, stock or other security.

Any modification to the list of tradable issues of an exchange. These modifications include: new listings, supplemental security listings, substitutional listings, deletions, name changes, and stock symbol changes.

A real-time message area usually dedicated to a particular topic.

A special term attached to an equity order that requires the trade to be settled either the same day or the following business day for cash.