An American Depositary Receipt (ADR) is a financial instrument issued by U.S. banks that allows domestic buyers to invest in foreign companies as a convenient substitute for direct ownership of stock.
A market in which long-term capital is raised by industry and commerce, the government, and local authorities. Private investors, insurance companies, pension funds, and banks primarily fund this market.
Delayed opening refers to the postponement of the start of trading in a stock until a gross imbalance in buy and sell orders is overcome. This is often necessitated by a significant event such as a takeover offer.
An auction system where the price of an item is gradually lowered until it meets a responsive bid and is sold. U.S. Treasury bills are sold under this system, which contrasts with the two-sided or double-auction system used by major stock exchanges.
Exchange-Traded Funds (ETFs) are investment funds traded on stock exchanges, allowing for flexibility and real-time trading. They offer advantages over traditional mutual funds by being priced throughout the trading day.
Full Disclosure refers to the obligation to release all material information pertinent to a transaction, especially in the context of securities where public information requirements are regulated.
An institutional investor is an organization, such as a bank, insurance company, or pension fund, that trades in very large volumes of securities. Institutional investors tend to dominate stock exchanges in many countries.
An MTF is a European Union-regulated financial trading venue, offering a platform different from traditional stock exchanges to match buyers and sellers in a transparent and efficient manner.
OMX is a company that owns and operates several stock exchanges in Scandinavia, the Baltic States, and Armenia. It also markets advanced electronic trading systems for derivatives products used worldwide. OMX was acquired by NASDAQ in 2008.
The SIX Swiss Exchange is Switzerland's primary stock exchange, facilitating trade in a variety of securities including stocks, bonds, and derivatives. It is renowned for its efficiency and innovative trading technology.
A ticker refers to the system that produces a continuous report of trading activity on stock exchanges, also known as ticker tape. This includes displaying stock symbols, the latest prices, and trading volumes on computer screens.
Warrants are securities offering the owner the right to subscribe for the ordinary shares of a company at a fixed date and price, and are also used in warehousing as proof for deposited goods.
A list of securities singled out for special surveillance by a brokerage firm, exchanges, or self-regulatory organizations to spot irregularities such as excessive trading volume or potential takeover activities.
