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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.

The difference between a company’s or individual’s total assets and its total liabilities. Also known as shareholders’ equity for a company.

Occurs concurrently with the posting of the new issuer’s securities for trading. The preconditions for listing include the acceptance by the Exchange that all listing requirements and conditions have been satisfied. The effective listing date is the date when the listed securities open for trading.

An IPO (initial public offering) is an issuer’s first offering of its securities made to the public in accordance with a prospectus. The offering is often made in conjunction with an issuer’s initial application for listing on an exchange.

Latest stock price multiplied by number of shares outstanding (shares issued).

This is a market order where the investor gives the floor trader the discretion to execute the order when he feels it is best. If the floor trader feels that the market will decline, he may hold the order to try to get a better fill. This order may not get filled.

This is an order to be executed at the market price when the market closes. Institutions frequently use this method to buy or sell large numbers of shares, e.g., when a stock is to be added or deleted from an index and the institution must buy or sell the stock for an index fund. These orders are also used on day trades in order to close a position at the end of the session regardless of the price. It can also be used when you want to exit a position that day, but do not want to cut off a stock that is running during the day-place a market on close order and your trade will be executed at the closing price. As with all market orders, there is risk in that the stock that was rising and hit a target you would be happy at selling at, but then falls right before the close.