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Latest share price divided by 12-month earnings per share (eps). Also a measure of the market’s enthusiasm for a company.

Latest share price divided by 12-month sales per share.

A common stock’s last closing market price per share divided by the latest reported 12-month earnings per share. This ratio shows you how many times the actual or anticipated annual earnings a stock is trading at.

A trade when a Participating Organization is either buying from, or selling to its client.

If there are several orders competing for a stock at the same price, a priority determines when one of these orders will be filled before any other at this price. Priority is based on the time at which the order is received into the system.

The private offering of a security to a small group of buyers. Resale of the security is limited. See Best Efforts and Bought Deal Underwriting.

An order that remains in the system for more than a day. See Good-Till-Cancelled or Good-Till-Date.

An investment fund that continuously offers its securities to investors and stands ready to redeem its securities at all times. Transactions in shares/units of mutual funds are based on their net asset value (NAV), determined at the close of each business day. Examples of an open-end fund are traditional mutual funds and exchange-traded funds (ETFs).

The market opens at 9:30 a.m. ET each business day.

Surplus cash generated from company’s basic operations without regard to income tax entries such as depreciation and amortization. Changes in levels of inventories, accounts receivable and accounts payable also affect cash flow. Also see Free Cash Flow.