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A company estimates the future profitability of a trade made today and books a profit today based on the present value of those estimated future profits.

Time after IPO, typically 180 days, when insiders are prohibited from selling their shares. 

The trading number of the clearing Participating Organization or Member.

A disclosure system that facilitates certain Canadian-U.S. cross-border securities offerings, issuer bids and takeover bids. It is intended to reduce costly duplication of disclosure requirements and other filings when issuers from one country register securities offerings in the other. Under the rules, eligible cross-border offerings are governed by the disclosure requirements of the issuer’s home country.

The difference between a company’s or individual’s total assets and its total liabilities. Also known as shareholders’ equity for a company.

A ‘long tail’ means the low for the day was well below the close. In other words, the market opened, sellers took over and pushed the index down, but then buyers came back in and ran the index back up to where it opened. The buyers had the last say on the day and showed a lot of strength moving up. That tends to show a reversal in the buying patterns and foretells a further rise from here for the short term.

An order from a retail customer of a Participating Organization.

Growth at a reasonable price. A strategy of buying stocks whose price/earnings ratio is equal to or less than the estimated annual earnings growth rate.

Orders placed before the market opens to buy or sell shares of stocks when their options expire. These orders are guaranteed a complete fill at the opening price to offset expiring options. They must be ordered between 4:15 p.m. and 5:00 p.m. on the Thursday before the third Friday of each month.

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.