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Occurs concurrently with the posting of the new issuer’s securities for trading. The preconditions for listing include the acceptance by the Exchange that all listing requirements and conditions have been satisfied. The effective listing date is the date when the listed securities open for trading.

The average market capitalization of stocks owned by a mutual fund.

This is a condition resulting from selling an option and not owning the related securities.

Someone typically working for a brokerage house, who publishes buy/hold/sell recommendations and earnings forecasts for a stock. Buy side analysts work for institutional buyers, and sell side analysts work for brokerages. 

A group of stocks or funds that you are tracking, but don’t currently own.

Selling stock you don’t own. You hope it drops in price so you can buy it back later at a lower price. You must have a margin account with your broker to sell short.

See Participating Organizations (POs) and Members

Occurs when the security has been listed and posted for trading, but the certificate representing the security itself is not yet issued and available for settlement. The exchange bulletin issued on listing of the security indicates if the trading will be done on a when-issued basis. In this case, the issuance of the security is guaranteed and the delay in issuance is often due to factors relating to the printing and distribution of the security. The period for when-issued trading is usually less than one week.

A publication, including financial statements and a report on operations, issued by a company to its shareholders at the company’s fiscal year-end.

A location on a Web site dedicated to the discussion of a particular topic, usually a single stock or industry sector. Discussions are not real-time. Someone posts a message, and then others respond over a period of hours or days.