A record of futures-contract transactions that is maintained daily by futures commission merchants and clearing houses. The street book is needed to…

The average earnings estimates made by brokers and securities analysts. Also known as the "market consensus" or "earnings expectations". Companies that…

When securities are held in the name of a broker or other nominee, as opposed to holding them in the customer's name. Shares are held in street name…

A company that has a management team with enough strength and experience to run a public company. It's imperative for Wall Street to have confidence in…

The investment approach or objective that a fund manager uses to make choices in the selection of securities for the fund's portfolio. While there are…

The divergence of a mutual fund from its stated investment style or objective. Style drift occurs as a result of intentional portfolio investing decisions…

A high-volume transaction prematurely revealed to the market before the order is even entered. Sunshine trades are meant to reduce confusion and speculation…

An account created in 1982 that offers a higher interest rate than a NOW account but lower interest than a money market account. Specific requirements…

A fully integrated order entry and execution system used by Nasdaq for all securities' transactions. The SuperMontage system has replaced the SuperSoes…

A bid that can be entered in the Nasdaq system to stabilize the price of a Nasdaq security prior to the date of a secondary offering. A secondary offering…

When a broker or advisor buys or sells a security for a client(s) and then immediately makes the same transaction in his or her own account. This is…

A situation on the trading floor where trading volume is so heavy that the real-time ticker quotes are delayed by a minute or two. When the tape is late…

When a broker divides an order for securities into a number of smaller orders. For certain securities, smaller orders can be easier to fill, so brokers…

A rule created by the National Association of Securities Dealers (NASD) that requires that special supervisory procedures be put in place when a specific…

A slang term used to describe Standard & Poor's one-page summary sheets for public companies. The summary page gives an overview of business segments…

An account that is set up within a fund to hold a balance as a result of a significant cash inflow or outflow to a fund. The account is set up to hold…

A nonprofit organization that provides investment and insurance services for those working in education, medicine, culture and research. TIAA-CREF, short…

The illegal practice of a company providing a product or service on condition the customer purchases a product from the same or related company. It is…

The date on which a security trade occurs. This differs from the settlement date, which is usually between one and five days after the trade date, depending…

A stock market order that is not executed at the best possible price according to quoted prices at other exchanges. Regulations to protect against trade-throughs…

1. An account similar to a traditional bank account, holding cash and securities, and is administered by an investment dealer. 2. An account held at a…

A slang term for an electronic trading facility where local investors can get together and trade for their own accounts. The arcade is often run by a…

The level of power entrusted to a broker or agent granting specific levels of access to a client's account. Trading authorization dictates what actions…

The portfolio of financial instruments held by a brokerage or bank. The financial instruments in the trading book are purchased or sold to facilitate…

A temporary suspension in the trading of a particular security on one or more exchanges, usually in anticipation of a news announcement or to correct…

An individual retirement account (IRA) that allows individuals to direct pretax income, up to specific annual limits, toward investments that can grow…

A stop-loss order set at a percentage level below the market price - for a long position. The trailing stop price is adjusted as the price fluctuates…

An agreement between a buyer and a seller for the exchange of goods or services for payment. The parties participating in a transaction have an obligation…

Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for…

A trust company, bank or similar financial institution assigned by a corporation to maintain records of investors and account balances and transactions…

The procedure by which ownership of a stock moves from one party to another. The transfer agent follows a detailed, documented series of steps governed…

A law passed in 1939 that prohibits bond issues valued at over $5 million from being offered for sale without a formal written agreement (an indenture)…

A floor broker who executes orders for other brokers who cannot do it themselves because they have more business than they can handle at that particular…

A company or other entity that administers the public issuance and distribution of securities from a corporation or other issuing body. An underwriter…

A situation where an investment strategy does not meet the objectives and means of an investor. In most parts of the world, financial professionals have…

1. The closure of an investment position. 2. The reconciliation of an error previously unseen by a brokerage house. 1. Sometimes referred to as closing…

When a trade in a listed stock is not executed through the listing exchange. Historically, in an upstairs trade buyers and sellers would negotiate the…

A type of two-way satellite that transmits both narrow and broadband data to satellites in orbit. The data is then redirected to other remote terminals…

A federal act, passed in 1968, that defines the rules in regards to acquisitions and tender offers. In the 1960s, a large number of takeovers occurred…

A form of settlement between dealers whereby trades are settled through the physical comparison of transactions and actual money and stocks are transferred…

A non-independent broker working for a wire house firm, or a firm with multiple branches such as a national brokerage house. A wire house broker is typically…

A type of limit order that can be modified by a floor broker according to his or her own judgment, allowing him or her to buy or sell to a set point beyond…

An account in which a brokerage manages an investor's portfolio for a flat quarterly or annual fee. This fee covers all administrative, commission, and…

A securities trade executed on an exchange at the same price as the preceding trade, but at a lower price than the last trade of a different price. For…

A security trade that is executed at the same price as the preceding trade but at a higher price than the last trade of a different price. For more than…