An investment fund that continuously offers its securities to investors and stands ready to redeem its securities at all times. Transactions in shares/units of mutual funds are based on their net asset value (NAV), determined at the close of each business day. Examples of an open-end fund are traditional mutual funds and exchange-traded funds (ETFs).
Archives
Ontario Securities Commission
The government agency that administers the Securities Act (Ontario) and the Commodity Futures Act (Ontario) and regulates securities and listed futures contract transactions in Ontario.
Open
This is the price at which a security opens for the trading day. A stock can open at the previous closing price, gap up or gap down.
Odd Lot
A block of stock consisting of less than 100 shares. When odd lots trade, a premium is usually tacked on by the specialist or market maker. These receive the least favorable price and trade last.
On-Stop (O/S) Order
A special-term order placed with the intention of trading at a later date when the price of the stock reaches the specified stop price. An on-stop order becomes a limit order once a trade at the trigger price has occurred.
One-Sided Market
A market that has only buy orders or only sell orders booked for a particular security.
Non-Resident Order
A special term order when one or more participants in the trade is not a Canadian resident.
Normalized Earnings
Profits a company can be expected to achieve taking out cyclical effects and unusual events such as one-time write-offs caused by late product releases, customer bankruptcies and the like.
Non-Net Order
A special-term order when there is a clear understanding between the buying and selling parties that they will settle the trade directly with each other.
Non-Operating Expenses
Expenses not due to basic business of company.