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A security whose interest rate or dividend changes with specified market indicators. A floating rate is one that is based on an administered rate, such as a prime rate.

The dollar value of flow-through shares issued in accordance with a TSX or TSX Venture Exchange approved transaction. The price is determined by the policies of the TSX Company Manual or TSX Venture Corporate Finance Manual; the price is not adjusted for the value of the flow-through tax benefit available to the security holder. It can be an initial public offering (IPO), secondary offering, or private placement.

A flying plateau is a pattern that forms after a stock has made a strong move up. Strong stocks will consolidate gains sometimes in a flat, sideways pattern in a tight range instead of selling back. This is a very bullish pattern, especially if it is formed on low volume. Picture a 45 degree rise and then a move sideways for several sessions. Strong stocks tend to rest in these patterns, and then start another leg up.

Operating cash flow minus amounts spent on plants and equipment and minus dividends. 

An interruption in trading on a stock, triggered when an order violates parameters set by TSX.

Earnings before interest and taxes. Also known as operating income. 

Earnings before interest, taxes, depreciation and amortization. Adds these items back to reported earnings to more accurately reflect real cash earnings of company. Similar to operating cash flow, except operating cash flow also considers changes in levels of inventories and receivables.

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

Developing countries.

Investment vehicles that may engage in the development, acquisition, and/or production of oil and gas reserves. The trust receives royalty income from producing properties (essentially, net cash flow) and then sells interests in the trust (called trust units) to investors. Conventional oil and gas royalty trusts are actively managed portfolios holding assets of mature producing properties. Substantially all of the cash flow generated by the oil and gas assets, net of certain deductions, such as administrative expenses and management fees, is passed on to the unit holders as royalty income. Capital expenses may also be deducted, but are usually subject to restrictions on the amount. The distributions are highly dependent upon the cash flow generated by the trust. In general, the largest variable in determining the level of cash flow is the price of crude oil and natural gas. Royalty trusts provide an alternative (from owning the shares of individual companies) for investors to participate in the oil and gas sector.