Exchangeable Security

A security of an issuer that is exchangeable for securities of another issuer (usually a subsidiary) in accordance with the terms of the exchange feature. The exchange may be at the option of the holder or at the option of the issuer of the securities.

Dutch Auction

A method of allocating shares in an IPO where you specify how much you’re willing to pay for how many shares.

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.

Blue Chip Stocks

Stocks of leading and nationally known companies that offer a record of continuous dividend payments and other strong investment qualities.

Defensive Stock

A stock purchased from a company that has maintained a record of stable earnings and continuous dividend payments through periods of economic downturn.