The character or characters that may follow the stock symbol to uniquely identify a listed security. It can be a single alphabetic character, two alphabetic characters, or a combination of two plus one characters with a maximum of eight characters for the stock symbol, extension and separator dots in between. For example, BMO.PR.U. Currently, they include: A-B – class of shares B – debentureE – equity dividendH – NEX marketIR – installment receiptsNO, NS, NT – notesP – Capital Pool CompanyPR – preferredR – subscription receiptsRT – rightsS – special U.S. termsU, V – U.S. fundsUN – units W – when issued WT – warrants
Archives
Suspended Issue
The status of a listed security of an issuer whose trading privileges have been revoked by the Exchange. All securities of the issuer remain suspended until trading privileges have been reinstated, or the issuer is delisted.
Trading Number
The unique, 3-digit number assigned to each Participating Organization and Member to identify it for market transparency.
Sell Side Analyst
An analyst employed by a brokerage house such as Merrill Lynch.
Stop Order
An order placed which is not at the current market price. It becomes a market order once the security touches the specified price. Buy stop orders are placed above the present market price. Sell stop orders are placed below the present market price (also known as a stop loss). If a stock gaps past the stop order, it becomes a market order and is filled at the next trading price.
Seat
The traditional term for membership on a stock exchange. An investment dealer or brokerage buys a seat on the exchange and one employee is designated as the seat holder. As Toronto Stock Exchange is now demutualized, there are no longer seats on the exchange.
Settlement Date
The date when a securities buyer must pay for a purchase or a seller must deliver the securities sold. Settlement must be made on or before the third business day following the transaction date in most cases.
Trading Range
A trading range occurs when a stock or average moves up and down between a consistent high and low for an extended period of time (days, to weeks, to months). The bottom of the range becomes fairly solid support as the top becomes fairly solid resistance the more times either holds. We play stocks within the trading ranges if they are loose enough to give us some room to maneuver, e.g., a 5 point range or more. A tight trading range is one that is significantly narrower than a particular stock?s usual trading fluctuations. A tight trading range on low volume is usually a very good indicator that a move up is coming.
Sweep
Movement of funds from a non interest-bearing account to an interest bearing account.
Stop Order (stop loss)
Order with broker to sell stock at market price when it goes down to specified (limit) price.