Debt Volume

The number of debt instruments traded on one side of the transaction for a specified period multiplied by the face value of the debt instrument.

Defensive Stock

A stock purchased from a company that has maintained a record of stable earnings and continuous dividend payments through periods of economic downturn.

Delayed Delivery Order

A special term order in which there is a clear understanding between the buying and selling parties that the delivery of the securities will be delayed beyond the usual three-day settlement period to the date specified in the order.

Cyclical Stock

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

Daily Price Limit

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