Market Not Held Order

This is a market order where the investor gives the floor trader the discretion to execute the order when he feels it is best. If the floor trader feels that the market will decline, he may hold the order to try to get a better fill. This order may not get filled.

Averages and Indices

Statistical tools that measure the state of the stock market or the economy, based on the performance of stocks, bonds or other components. Examples are the S&P/TSX Venture Composite Index, the S&P/TSX Composite Index, the Dow Jones Industrial Average and the Consumer Price Index.

Market On Close Order

This is an order to be executed at the market price when the market closes. Institutions frequently use this method to buy or sell large numbers of shares, e.g., when a stock is to be added or deleted from an index and the institution must buy or sell the stock for an index fund. These orders are also used on day trades in order to close a position at the end of the session regardless of the price. It can also be used when you want to exit a position that day, but do not want to cut off a stock that is running during the day-place a market on close order and your trade will be executed at the closing price. As with all market orders, there is risk in that the stock that was rising and hit a target you would be happy at selling at, but then falls right before the close.

Averaging Down

Buying more of a security at a price that is lower than the price paid for the initial investment. The aim of averaging down is to reduce the average cost per unit of the investment.

Master Limited Partnership (MLP)

Similar to a real estate investment trust (REIT), except MLPs are not limited to a specific industry compared to REITs which must invest in real estate. Both types trade like stocks on the New York Stock Exchange, and both types must distribute most of their earnings in the form of dividends. 

Last Sale Price

For a Market On Close (MOC)-eligible security, the last sale price equals the calculated closing price. If the MOC closing price acceptance parameters are exceeded, it equals the last board lot sale price of the security on the exchange in the regular trading session.For any other listed security, the last sale price equals the last board lot sale price of the security on the exchange, in the regular trading session.