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A trust that usually generates cash flows from one business or operating company, unlike an investment fund, which generates income from a diversified pool or portfolio. The trust holds debt and equity interests of an operating business. Businesses that exhibit these characteristics may opt for a trust structure over a corporate structure to take advantage of tax efficiency.

The aggregate size in board lots of the most recent bid to buy a particular security.

Any business day on which the clearing corporation is open to effect trade clearing and settlement.

All shares representing ownership of a company, including preferred and common shares.

Current assets minus current liabilities. 

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

Analyst working for mutual fund or other institutional investor. We don’t usually get to see their reports.

A model used to estimate the price of an option.

Large, stabile companies. 

Any day from Monday to Friday, excluding statutory holidays.