Archives

A stock of a company in an industry sector that is particularly sensitive to swings in economic conditions.

This is the price at which a security opens for the trading day. A stock can open at the previous closing price, gap up or gap down.

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

Investors buy shares directly from fund, and sell shares directly to fund. Share price is Net Asset Value (NAV).

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

An order that remains in the system for more than a day. See Good-Till-Cancelled or Good-Till-Date.

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

An investment fund that continuously offers its securities to investors and stands ready to redeem its securities at all times. Transactions in shares/units of mutual funds are based on their net asset value (NAV), determined at the close of each business day. Examples of an open-end fund are traditional mutual funds and exchange-traded funds (ETFs).

A trade that occurs when two accounts within the same Participating Organization/Member wish to buy and sell the same security at an agreed price and volume. With some approved exceptions, crosses can only occur within the current bid and ask for the stock.

A block of stock consisting of less than 100 shares. When odd lots trade, a premium is usually tacked on by the specialist or market maker. These receive the least favorable price and trade last.