Averages and Indices

Statistical tools that measure the state of the stock market or the economy, based on the performance of stocks, bonds or other components. Examples are the S&P/TSX Venture Composite Index, the S&P/TSX Composite Index, the Dow Jones Industrial Average and the Consumer Price Index.

Averaging Down

Buying more of a security at a price that is lower than the price paid for the initial investment. The aim of averaging down is to reducethe average cost per unit of the investment.

At-the-Money

When the price of the underlying equity, index or commodity equals the strike price of the option.

Basis Point

One-hundredth of a percentage point. For example, the difference between 5.25% and 5.50% is25 basis points.

Bear Market

A market in which stock prices are falling.

Ask or Offer

The lowest price at which someone is willing to sell thesecurity. When combined with the bid price information, it forms the basisof a stock quote.

Anonymous Trading Permits Participating

Organizations to voluntarily withhold their true broker identities when entering orders and trades on TSX trading systems.

Annual Report

A publication, including financial statements and a report on operations, issued by a company to its shareholders at the company's fiscal year-end.

All-or-None Order

An order that must be filled completely or the trade will not take place.

Alberta Securities Commission (ASC)

The provincial regulatory agency responsible for overseeing the capital marketin Alberta.