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A trade that occurs when two accounts within the same Participating Organization/Member wish to buy and sell the same security at an agreed price and volume. With some approved exceptions, crosses can only occur within the current bid and ask for the stock.

An order from a retail customer of a Participating Organization.

If a broker fails to deliver securities sold to another broker on the settlement date, the receiving broker may buy the securities at the current market price of the stock and charge the delivering broker the cost difference of such a purchase.

The trading number of the clearing Participating Organization or Member.

To write an option is to sell an option. The person who sells the option is considered to be the writer.

A form of financial trust that differs from other trusts in that it looks more like a fixed income instrument than an equity issue. Capital trusts are generally issued by banks or other financial intermediaries. These investment vehicles trade like a debt instrument with $1,000 face value and trade with accrued interest.The business objective of capital trusts is to acquire and hold assets that will generate net income for distribution to unit holders. The trust’s assets may consist of residential mortgages, mortgage co-ownership interests, mortgage-backed securities, other eligible investments, and other qualified debt obligations. Capital trust assets are usually acquired from and serviced by the issuing institution and/or its affiliates.

If a broker fails to deliver securities sold to another broker on the settlement date, the receiving broker may buy the securities at the current market price of the stock and charge the delivering broker the cost difference of such a purchase.

A single purchase or sale of a stock involving 10,000 or more shares. 

A mathematical model used to calculate the theoretical price of an option.

An order from a retail customer of a Participating Organization.