Business / Finance Glossary

Away: A trade, quote, or market that does not originate with the dealer in question, e.g., 'the bid is 98-10 away from me.'

Away From The Market: In context of general equities, out of line with the inside market at this time, such as when a bid on a limit order is lower or the offer price is higher than the current market price for t . . . View Full Definition

Away From Us: Used in context of general equities, to characterize role of a competing broker/dealer. Trading away from us signifies that stock is bought and/or sold with institutions using other trading firms.

Axe To Grind: Used in context of general equities. Involvement in a security, whether through a position, order, or inquiry.

B: Fifth letter of a Nasdaq stock descriptor specifying that issue is the Class B shares of the company.

B2B: An Internet strategy of dealing directly with businesses, rather than consumers, i.e. business to (2) business.

Baby Bond: A bond with a par value of less than $1000.

Back Away: In the context of general equities, to withdraw from a previously declared interest, indication, or transaction; broker-dealer's failure, as a market maker in a given security, to make good . . . View Full Definition

Back Fee: The fee paid on the extension date if the buyer wishes to continue the option.

Back Months: In the context of futures and options trading, refers to the months of contracts with expiration dates farthest away. See farthest month.

Back Office: Brokerage house clerical operations that support, but do not include, the trading of stocks and other securities. All written confirmation and settlement of trades, record keeping, and regul . . . View Full Definition

Back On The Shelf: In the context of general equities, permanently cancelled order/interest in a stock by a customer. See: Take a powder.

Back Taxes: Due taxes that have not been paid on time.

Back Up: (1) When bond yields rise and prices fall, the market is said to backup. (2) An investor who swaps out of one security into another of shorter current maturity is said to back up.

Back Up The Truck: In the context of general equities, 'Prepare for a very large buyer.'

Back-End Load Fund: A mutual fund that charges investors a fee to sell (redeem) shares, often ranging from 4% to 6%. Some back-end load funds impose a full commission if the shares are redeemed within a designa . . . View Full Definition

Back-Testing: Creating a hypothetical portfolio performance history by applying current asset selection criteria to prior time periods.

Back-To-Back Financing: An intercompany loan channeled through a bank.

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