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The holder of shares purchased ex rights is not entitled to already-declared rights, but is entitled to future rights issues.

Ex-dividend/distribution date. The date that the buyer of a stock is not entitled to the upcoming declared dividend/distribution, because the buyer will not be a holder of record. The ex-d date is two clearing days before the record date. The exchange that the issue is listed on sets the ex-d date.

The day after dividends are paid.

A form of prospectus that allows a company to conduct a prospectus offering through the facilities of a stock exchange, rather than issuing them directly to the public. The company then applies to list the securities on the exchange.

The process whereby an in-depth examination of a company’s business prospects is conducted.

A method of allocating shares in an IPO where you specify how much you’re willing to pay for how many shares.

After tax 12-month’s earnings divided by the number of shares outstanding. 

Earnings before interest and taxes. Also known as operating income. 

Earnings before interest, taxes, depreciation and amortization. Adds these items back to reported earnings to more accurately reflect real cash earnings of company. Similar to operating cash flow, except operating cash flow also considers changes in levels of inventories and receivables.

Electronic Communication Network. ECNs are expected to supplement or even replace conventional stock exchanges over the next one to two years.