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The buyer of an option contract who has the right to exercise the option during its lifetime.

An individual option contract for a given security.

A call or put contract.

An eight or nine-digit number assigned to every order entered into the system.

OTC (over-the-counter) foreign trading refers to UMIR Rule 6.4 (e), which permits a trade to be executed off the Exchange, if one or both Participating Organization/Member client accounts are outside of Canada, provided such trades are reported within a specific time frame to the Exchange for public dissemination of the transaction.

Market prices that have risen too steeply and too quickly.

A disclosure system that facilitates certain Canadian-U.S. cross-border securities offerings, issuer bids and takeover bids. It is intended to reduce costly duplication of disclosure requirements and other filings when issuers from one country register securities offerings in the other. Under the rules, eligible cross-border offerings are governed by the disclosure requirements of the issuer’s home country.

Orders placed before the market opens to buy or sell shares of stocks when their options expire. These orders are guaranteed a complete fill at the opening price to offset expiring options. They must be ordered between 4:15 p.m. and 5:00 p.m. on the Thursday before the third Friday of each month.

A seller of an option contract who does not own a position in the underlying security.

The difference between the previous day’s closing price and the last traded price.