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Electronic Communication Network. ECNs are expected to supplement or even replace conventional stock exchanges over the next one to two years.

A group of stocks or funds that you are tracking, but don’t currently own.

Developing countries.

Occurs when the security has been listed and posted for trading, but the certificate representing the security itself is not yet issued and available for settlement. The exchange bulletin issued on listing of the security indicates if the trading will be done on a when-issued basis. In this case, the issuance of the security is guaranteed and the delay in issuance is often due to factors relating to the printing and distribution of the security. The period for when-issued trading is usually less than one week.

Sales charge paid when selling a mutual fund (a.k.a. back-end load).

The total number of issued and outstanding shares for the security.

A balance sheet liability reflecting payments received for work not yet performed. 

Similar to the stock price index value (SPIV), except that the TRIV is based on the aggregate, float quoted market value of the index constituents (SPIV) plus their paid dividends/distributions. TRIV is calculated only at the end of the trading session for all S&P/TSX indices.

A special term order in which there is a clear understanding between the buying and selling parties that the delivery of the securities will be delayed beyond the usual three-day settlement period to the date specified in the order.

A trading halt is imposed by the exchange, usually due to the dissemination of news that might impact a stock’s price.