Investment Advisor

A person employed by an investment dealer who provides investment advice to clients and executes trades on their behalf in securities and other investment products.

Issue Status

The trading status of a class or series of an issuer's listed securities, such that a class or series of listed securities of an issuer may be halted, suspended, or delisted fromtrading.

Issue Status

The trading status of a class or series of an issuer's listed securities, such that a class or series of listed securities of an issuer may be halted, suspended, or delisted fromtrading.

Issued and Outstanding Securities

Commonly refers to the situation where the number of issued securities equals the number of outstanding securities. However, under certain corporate statutes in Canada, an issuer may have issued securities and then repurchased those securitieswithout cancelling them. In that case, the securities are issued but are not outstanding. As a result, the number of issued securities does not equal the number of outstanding securities.

Jitney Order

The execution and clearing of orders by one member ofa stock exchange for the account of another member.For example, investment dealer A is a small firm whose volume of business isnot sufficient to maintain a trader on the exchange. Instead, investment dealer A gives its orders to investment dealer B, a larger organization which is a member of the exchange, for execution. Investment dealer A pays a reduced percentage of the normal commission.

Last Sale Price

For a Market On Close (MOC)-eligible security, the last sale price equals the calculated closing price. If the MOC closing price acceptance parameters are exceeded, it equals the last board lot sale price of the security on the exchange in the regular trading session.
For any other listed security,the last sale price equals thelast board lot sale price of the security on the exchange, in the regular trading session.

Liabilities

The debts and obligations ofa company or an individual. Current liabilities are debts due and payable within oneyear. Long-term liabilities are those payable after one year. Liabilities are found ona company's balance sheet or an individual's net worth statement.

Limit Order

An order to buy or sell stock at a specified price. The order can be executed only at the specified price orbetter. A limit order sets themaximum price the client is willing to pay as a buyer, and the minimum price theyare willing to accept as a seller.

Liquidating Order

An order to close out an existing open futures or options contract. A liquidating order involves the sale of a contract that has been purchased or purchase of a contract that has been sold.

Liquidity

This refers to how easily securities can be bought or sold in the market. A security is liquid when thereare enough units outstanding for large transactions to occur withouta substantial change in price.