Fin 332 Midterm Chaps 3-4

the price at which the dealer or other trader will sell a security.

exchange or electionic platform where all traders can convene to buy or sell an asset.

the difference between the bid and asked prices.

the price at which a dealer or other trader is willing to purchase a security.

an order specifying a price at which an investor is willing to buy a security

An order specifying a price at which an investor is willing to sell a security

large transaction in which atleast 10,000 shares of stock are bought or sold.

electronic trading networks where participants can anonymously buy or sell large blocks of securities.

markets in which traders specializing in particular assets buy and sell for their own accounts.

a previously private company floats exisitng shares on the stock market but does not raise funds by issuing new shares to the public.

computer neworks that allow direct listing without the need for market makers.

a subset of algorithmic trading that relies on computer programs to make very rapid trading decisions.

first public sale of stock by a formerly private company.

a description of the firm and the security it is issuing

the time it takes to accept, process, and deliver a trading order

describes securities purchased with money borrowed in part from a broker.

an informal network of brokers and dealers who negotiate sales of securities

market for new issues of securities.

a physcial trading floor and a computer network where stocks are bought and sold on an auction market. it is the largest stock exchange in the world.

primary offerings in which shares are sold directly to a small group of institutional or wealthy investors.

market for already-exisitng securities.

the sale of shares not owned by the investor but borrowed through a broker and later purchased to replace the loan.

publicly traded company created solely to raise capital through an initial public offering to acquire or merge with a private company, effecitely taking it public. have no commercial operations and exist only to find a target company.

the computer-linked price quotation and trade execution system, dealer market

shares may not be redeemed, but instead are traded at prices that can differ from net asset value

they have a fixed number of shares that trade on the open market

offshoots of mutual funds that allow investors to trade index portfolios

mutual funds that invest in other funds

a private investment pool, open to wealthy or institutional investors, that can pursure more speculative policies than mutual funds.

financial intermediaries that invest the funds of individual investors in securities or other assets.

a sales commission charged on a mutual fund

assets minus liabilites expressed on a per-share basis

a fund that issues or redeems its shares at net asset value.

is a type of investment fund that continuously issues and redeems shares based on investor demand

ratio of the trading activity of a portfolio to the assets of the portfolio

money pooled from many investors that is invested in a portfolio fixed for the life of the fund.