Business / Finance Glossary

On The Money: Used in the context of general equities. In-line, or at the same price, as the last sale.

On The Opening Order: A market order that is to be executed at the price of the first trade of the day.

On The Print: Used in the context of general equities. To participate in a block trade that has already transpired, as if that customer had been part of the trade originally; often used by a new party loo . . . View Full Definition

On The Run: The most recently issued (and typically the most liquid) government bond in a particular maturity range.

On The Sidelines: An investor who decides not to invest due to market uncertainty.

On The Take: Used in the context of general equities. Price moving upward, because more buyers are taking offerings, causing offerings to vanish and be replaced by higher ones. Antithesis of come in, get hit.

On The Tape: Used in the context of general equities. (1) Trade printed on the ticker tape; (2) news displayed on Reuters or the Dow Jones News Service.

On-Floor Order: Used for listed equity securities. Security order originating with a member on the floor of an exchange when dealing with his or her own account, versus an upstairs order. Antithesis of off- . . . View Full Definition

One-Decision Stock: A quality stock that is not actively traded, but rather held for its growth potential.

One-Factor APT: A special case of the arbitrage pricing theory that is derived from the one-factor model by using diversification and arbitrage. It shows that the expected return on any risky asset is a lin . . . View Full Definition

One-Man Picture: When both bid and the offered prices of a broker come from the same source.

One-Share-One-Vote Rule: The principle that all shareholders should have equal voting rights in public companies and each shareholder should have one vote.

One-Way Market: (1) A market in which only one side, the bid or asked, is quoted or firm. (2) A market that is moving strongly in one direction.

OPD: Tape symbol showing either the first transaction of the day in a security after a delayed opening or the opening transaction in a security whose price has experienced a large rise or fall fr . . . View Full Definition

Open: Used in the context of general equities. Having either buy or sell interest at the indicated price level and side of a preceding trade. 'Open on the buy/sell sid' means looking for buyers/se . . . View Full Definition

Open (Good-Till-Cancelled) Order (GTC Order): Order to buy or sell a security that stays active until it is completed or the investor cancels it.

Open Account: Arrangement whereby sales are made with no formal debt contract. The buyer signs a receipt, and the seller records the sale in the sales ledger.

Open Contracts: Contracts that have been bought or sold without completion of the transaction by subsequent sale or purchase, or by making or taking actual delivery of the financial instrument or physical commodity.

Open Depending On The Floor: Used for listed equity securities. Having room for a customer buyer or seller contingent on the results of a trade being executed on the floor (i.e., satisfying the specialist book and the o . . . View Full Definition

Open Interest: The total number of derivatives contracts traded that have not yet been liquidated either by an offsetting derivative transaction or by delivery. Related: Liquidation.

Open On The Print: Used in the context of general equities. Block trader's term for a block trade that has been completed with an institutional client and printed on the consolidated tape, but leaves the block . . . View Full Definition

Open Position: A net long or short position whose value will change with a change in prices.

Open Repo: A repurchase agreement with no definite term. The agreement is made on a day-to-day basis, and either the borrower or the lender may choose to terminate. The rate paid is higher than on over . . . View Full Definition

Open Up: Used in the context of general equities. Disclose more information (e.g., the exact price and quantity of one's potential interest). See: Put pants on it.

Open-End Credit: Revolving line of credit that is extended with every purchase or cash advance.

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