Equities

Common and preferred stocks, which represent a share in the ownership of a company.

Discount Broker

A stockbroker charging lower commissions than full-service brokers. Discount brokers do not give investment advice.

Common Stock

Shares of a publicly held corporation, usually includes voting rights. Common stock has lower priority in event of liquidation than preferred shares.

Debenture

A long-term debt instrument issued by corporations or governments that is backed only by the integrity of the borrower, not by collateral. A debenture is unsecured and subordinate to secured debt. A debenture is unsecured in that there are no liens or pledges on specific assets.

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.

Dividend

The portion of the issuer’s equity paid directly to shareholders. It is generally paid on common or preferred shares. The issuer or its representative provides the amount, frequency (monthly, quarterly, semi-annually, or annually), payable date, and record date. The exchange that the issue is listed on sets the ex-dividend/distribution (ex-d) date for entitlement. An issuer is under no legal obligation to pay either preferred or common dividends.

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.