Growth Stock

The shares of companies that have enjoyed better-than-average growth over recent years and are expected to continue their climb.

Face Value

The cash denomination of the individual debt instrument. It is the amount of money that the holder of a debt instrument receives back from the issuer on the debt instrument’s maturity date. Face value is also referred to as par value or principal.

GICS

The Global Industry Classification Standard (GICS) is a consistent set of global economic sector and industry definitions. GICS are used to classify the constituents of many indices worldwide. GICS is a four-level classification system. The four levels are: sector, industry group, industry, and sub-industry. Standard & Poor’s and Morgan Stanley Capital International (MSCI), two providers of global indices, jointly launched GICS in 1999.

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.

Good-Till-Cancelled (GTC) Order

A GTC order will remain in the system until the date that it is filled or until a maximum of 90 calendar days from date of entry, whichever happens first. This type of order is also referred to as an open order. A Participating Organization can cancel a GTC order at any time.

Financial Leverage Ratio

The leverage ratio, which is total assets divided by shareholders’ equity, is an all-purpose debt gauge. A company with no debt would have a ratio of one, and the higher the ratio, the more debt.