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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.

Earnings without considering certain expenses such as inventory write downs, severance pay, depreciation and amortization charges, or just about anything else the company feels like excluding to make its earnings look better. Also known as core earnings, ongoing earnings, earnings excluding special items, or operating earnings. 

What is left over for the owners of a business after all expenses have been deducted from revenues. Gross profit is the profit before corporate income taxes. Net profit is the final profit of the business after taxes have been paid.

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.