Debt Value

The total dollar value of volume traded on one side of the transaction for a specified period. It equals price multiplied by volume divided by 100.

Income Trust

Also called income funds. Income trusts are trusts structured to own debt and equity of an underlying entity, which carries on an active business, or has royalty revenues generated by the assets of an active business. By owning securities or assets of an underlying business, an income trust is structured to distribute cash flows, typically on a monthly basis, from those businesses to unit holders in a tax-efficient manner. The trust structure is typically utilized by mature, stable, sustainable, cash-generating businesses that require a limited amount of maintenance capital expenditures. An income trust is an exchange-traded equity investment that is similar to a common share. There are four categories of income trusts: business trusts; real estate investment trusts (REITs); energy trusts; and power, pipeline, and utility trusts.

Index Option

An option whose underlying security is an index. An example would be the S&P 100 (OEX). A trader can buy index options and bet on the direction of the OEX.

Gain-on-sale accounting

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.

Debt Volume

The number of debt instruments traded on one side of the transaction for a specified period multiplied by the face value of the debt instrument.