Business / Finance Glossary

Blank Check Offering: An initial public offering by a company whose business activities are undefined and therefore speculative.

Blanket Fidelity Bond: SEC-required insurance coverage that brokerage firms are required to have in order to cover fraudulent trading by employees.

Blanket Inventory Lien: A secured loan that gives the lender a lien against all the borrower's inventories.

Blanket Recommendation: A recommendation by a brokerage firm sent to all its customers advising that they buy or sell a particular stock regardless of investment objectives or portfolio size.

Blind Pool: A limited partnership that does not announce its intentions as to what properties will be acquired.

Blind Trust: A trust in which a fiduciary third party has total discretion to make investments on behalf of a beneficiary while the beneficiary is uninformed about the holdings of the trust.

Blitzkrieg Tender Offer: In the context of a takeover, refers to a tender offer that is priced so attractively that the tender is completed quickly.

Block: Large quantity of stock or large dollar amount of bonds held or traded. As a rule of thumb, 10,000 shares or more of stock and $200,000 or more worth of bonds would be described as a block.

Block Call: In the context of general equities, conference meeting during which customer indications and orders, along with the traders' own buy/sell preferences, are conveyed to the entire organization . . . View Full Definition

Block House: Brokerage firms that help to find potential buyers or sellers of large block trades.

Block List: In the context of general equities, listing of stock the investment bank is looking for (wants to buy) or (wants to sell) at the beginning of the day, whether on an agency or principal basis.

Block Trade: A large trading order, defined on the New York Stock Exchange as an order that consists of 10,000 shares of a given stock or at a total market value of $200,000 or more.

Block Trader: A dealer who will take a position in the block trades to accommodate customer buyers and sellers of blocks. See: Dealer, market maker, principal.

Block Voting: Descirbes a group of shareholders banding together to vote their shares in a single block.

Blocked Currency: A currency that is not freely convertible to other currencies due to exchange controls.

Blow-Off Top: A steep and rapid increase in price followed by a steep and rapid drop. This is an indicator seen in charts and used in technical analysis of stock price and market trends.

Blowout: The rapid sale of all shares in a new securities offering. See: hot issue.

Blue List: Daily financial publication featuring bonds offered for sale by dealers and banks that represent billions of dollars in par value. Also available on-line at www.bluelist.com.

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