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

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).

The market opens at 9:30 a.m. ET each business day.

Surplus cash generated from company’s basic operations without regard to income tax entries such as depreciation and amortization. Changes in levels of inventories, accounts receivable and accounts payable also affect cash flow. Also see Free Cash Flow. 

A market that has only buy orders or only sell orders booked for a particular security.

The government agency that administers the Securities Act (Ontario) and the Commodity Futures Act (Ontario) and regulates securities and listed futures contract transactions in Ontario.

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.

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

A special term order when one or more participants in the trade is not a Canadian resident.

Profits a company can be expected to achieve taking out cyclical effects and unusual events such as one-time write-offs caused by late product releases, customer bankruptcies and the like.