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All or None (AON) Order
An order with this condition should be
matched either with the entire order quantity or none at all.
Arbitrage
The business of taking advantage of
difference in price of a security traded on two or more stock
exchanges, by buying in one and selling in the other (or vice
versa). Quite simply it means you try to buy something cheap in one
place, to make a profit selling it somewhere else. Given the speed at
which the financial markets now operate, in practice the
simultaneous purchase of foreign exchange, securities, commodities
or any other financial instrument in one market and the sale in
another at a higher price.
American Depository Receipt (ADR)
A stock representing a specified
number of shares in a foreign corporation. ADR's are bought and sold
in the American markets just like regular stocks. An ADR is issued
by a U.S. Bank, consisting of a bundle of shares of a foreign
corporation that are being held in custody overseas. The foreign
entity must provide financial information to the sponsor bank. ADR's
are listed on either the NYSE, AMEX, or NASDAQ.
American Depository Share (ADS)
A share issued under deposit
agreement that represents an underlying security in the issuer's
home country. The term ADR and ADS are thought to be the same, they
sort of are. ADS is the actual share trading while ADR represents a
bundle of ADSs.
At best
An instruction from the client to
the broker authorising him to use his discretion and try to execute
an order at the best possible price. An 'at best' order is valid
only for the day it is placed.
Averaging
The process of gradually buying
more and more securities in a declining market (or selling in a
rising market) in order to level out the purchase (or sale) price
Arbitration
Settlement of claims differences or disputes between one member and
another and between a member and his clients, authorized clerks,
sub-brokers etc., through appointed arbitrators.
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