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A security of an issuer (for example – bonds, debentures, or preferred shares) that may be converted into other securities of that issuer, in accordance with the terms of the conversion feature. The conversion usually occurs at the option of the holder of the securities, but it may occur at the option of the issuer.

A form of business organization created under provincial or federal laws that has a legal identity separate from its owners. The shareholders are the corporation’s owners and are liable for the debts of the corporation only up to the amount of their investment. This is known as limited liability.

Settlement of an option contract not by delivery of the underlying shares, but by a cash payment of the difference between the strike or exercise price and the underlying settlement price.

The physical document that shows ownership of a bond, stock or other security.

Any modification to the list of tradable issues of an exchange. These modifications include: new listings, supplemental security listings, substitutional listings, deletions, name changes, and stock symbol changes.

A real-time message area usually dedicated to a particular topic.

Any business day on which the clearing corporation is open to effect trade clearing and settlement.

The trading number of the clearing Participating Organization or Member.

An order from a retail customer of a Participating Organization.

Investors buy shares from other share holders, and sell shares to other investors. Share price is determined by supply and demand for fund shares (as opposed to Net Asset Value for open-end Funds).