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Fax. 780-424-0004
100, 10585 - 111 Street
Edmonton, Alberta  T5H 3E8

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glossary


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Odd Lot

A number of shares which are less than a board lot.

Off-the-Board

This term may refer to transactions over-the-counter in unlisted securities, or, in a special situation, to a transaction involving a block of listed shares which is not executed on a recognized stock exchange.

Offer

The lowest price at which a person is ready to sell; as opposed to bid which is the highest price at which one is ready to buy.

Of Record

On the company's books or record. If, for example, a company announces that it will pay a dividend to shareholders of record January 15, every shareholder whose name appears on the company's books on that day will be sent a dividend cheque from the company.

Open-End Fund

See Investment Fund.

Open Order

An order to buy or sell a security at a specified price, valid until executed or cancelled.

Option

A right to buy or sell specific securities or properties at a specified price within a specified time. (See Puts and Calls.)

Option Eligible Securities

Securities which meet the eligibility criteria as underlying securities for either Canadian (TransCanada Options - TCO) or U.S. (Options Clearing Corporation - OCC) exchange-traded Put and Call Options. In Canada, option eligible securities, securities convertible into option eligible securities and non-convertible preferred shares of companies whose securities qualify as option eligible securities, require minimum client margin (for purchase on margin) of 30% of their current market value.

Out-of-Line

A security which appears to be selling too low or too high in relation to comparable issues.

Over-the-Counter (OTC)

A market for securities made up of securities dealers who may or may not be members of a recognized stock exchange. Over-the-counter is mainly a market conducted over the telephone. Also called the unlisted, inter-dealer or street market.


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