Liabilities

The debts and obligations of a company or an individual. Current liabilities are debts due and payable within one year. Long-term liabilities are those payable after one year. Liabilities are found on a company’s balance sheet or an individual’s net worth statement.

Limit Order

An order to buy or sell stock at a specified price. The order can be executed only at the specified price or better. A limit order sets the maximum price the client is willing to pay as a buyer, and the minimum price they are willing to accept as a seller.

Liquidating Order

An order to close out an existing open futures or options contract. A liquidating order involves the sale of a contract that has been purchased or purchase of a contract that has been sold.

Liquidity

a measure of the number of shares, or dollar value of shares traded daily. Mutual funds and other institutional buyers prefer high liquidity stocks so they can easily move in and out of positions.

Listed Stock

Shares of an issuer that are traded on a stock exchange. Issuers pay fees to the exchange to be listed and must abide by the rules and regulations set out by the exchange to maintain listing privileges.

Issue Status

The trading status of a class or series of an issuer’s listed securities, such that a class or series of listed securities of an issuer may be halted, suspended, or delisted from trading.

Issued and Outstanding Securities

Commonly refers to the situation where the number of issued securities equals the number of outstanding securities. However, under certain corporate statutes in Canada, an issuer may have issued securities and then repurchased those securities without cancelling them. In that case, the securities are issued but are not outstanding. As a result, the number of issued securities does not equal the number of outstanding securities.

Issuer Status

The trading status of a listed or formerly listed issuer. Issuer status types include: delisted, listed, suspended, and trading.

Jitney Order

The execution and clearing of orders by one member of a stock exchange for the account of another member. For example, investment dealer A is a small firm whose volume of business is not sufficient to maintain a trader on the exchange. Instead, investment dealer A gives its orders to investment dealer B, a larger organization which is a member of the exchange, for execution. Investment dealer A pays a reduced percentage of the normal commission.