Agent

A securities firm is classified as an agent when it acts on behalf of its clients as buyer or seller of a security. The agent does not own the security at any time during the transaction

Better-Price-Limit Orders

An order with a limit price better than the best price on the opposite side of the market. A better-priced buy order has a limit price higherthan the best offering. A better-priced sell order has a limit price lower than the best bid. These are available only at the opening.

Bid

The highest price a buyer is willing to pay for a stock. When combined with the askprice information, it forms thebasis of a stock quote.

Bid Size

The aggregate size in board lots of the most recent bid tobuy a particular security.

Black-Scholes Model

A mathematical model used to calculate the theoretical price of an option.

Blue Chip Stocks

Stocks of leading and nationally known companies that offer a record of continuous dividend payments and other strong investment qualities.

Board Lot

A standard trading unit as defined in UMIR (Universal Market Integrity Rules). The board lot size of a security onToronto Stock Exchange or TSX Venture Exchange depends on the trading price of the security, as follows:
*. Trading price per unit is less than $0.10 - board lot size is 1,000 units
*. Trading price per unit is$0.10 to $0.99 - board lot size is 500 units
*. Trading price per unit is$1.00 or more - board lot size is 100 units

Bonds

Promissory notes issued by a corporation or government to its lenders, usually with a specified amount of interest for a specified length of time.

Book

An electronic record of all pending buy and sell ordersfor a particular stock.

Booked Orders

Orders that do not trade immediately upon entry. These orders are also known as outstanding orders.