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CSC > Chapter - 2 > Flashcards

Chapter - 2 Flashcards

1
Q

Privately-owned computerized networks that match orders for securities outside of recognized exchange facilities. Also referred to as ___

A

Alternative Trading Systems (ATS), Proprietary Electronic Trading Systems (PETS)

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2
Q

The lowest price a seller will accept for the financial instrument being quoted

A

Ask price

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3
Q

Market in which securities are bought and sold by brokers acting as agents for their clients, in contrast to a dealer market where trades are conducted over-the-counter. For example, the Toronto Stock Exchange.

A

Auction market

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4
Q

The difference between the current bid and ask, calculated as Ask - Bid.

A

Bid-Ask spread

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5
Q

The highest price a buyer is willing to pay for the financial instrument being quoted

A

Bid price

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6
Q

A stock exchange (also referred to as the ___) that deals exclusively with non-agricultural options and futures in Canada, including all options that previously traded on the Toronto Stock Exchange and all futures products that previously traded on the Toronto Futures Exchange.

A

Bourse de Montréal, Montréal Exchange

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7
Q

Launched in 2003 as an alternative marketplace for trading equity securities and emerging companies

A

Canadian Securities Exchange (CSE)

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8
Q

An Internet web-based system for investment dealers to report completed trades in unlisted and unquoted equity securities in Ontario

A

Canadian Unlisted Board Inc.

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9
Q

Provides institutional investors with electronic access to federal bond bid and offer prices and yields from its six bank-owned dealers

A

CanDeal

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10
Q

A joint venture of several IIROC member firms and operates as an electronic trading system for fixed income securities providing investors with real-time bid and offer prices and hourly trade data

A

CanPX

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11
Q

Has two distinct but related meanings. To an economist, it means machinery, factories and inventory required to produce other products. To an investor, it may mean the total of financial assets invested in securities, a home and other fixed assets, plus cash.

A

Capital

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12
Q

An electronic trading system for fixed- income securities operating in the retail market

A

CBID

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13
Q

An electronic trading system for fixed- income securities operating in the institutional market

A

CBID Institutional

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14
Q

Securities representing ownership in a company. They carry voting privileges and are entitled to the receipt of dividends, if declared. Also called ___.

A

Common shares, Common stock

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15
Q

A market in which securities are bought and sold over-the-counter in which dealers acts as principals when buying and selling securities for clients. Also referred to as the ___.

A

Dealer market, Unlisted market

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16
Q

Evidence of a share of ownership stake in the company that issued the security

A

Equity securities

17
Q

A natural gas exchange, headquartered in Calgary, Alberta that provides electronic trading, central counterparty clearing and data services to the North American natural gas and electricity markets.

A

ICE NGX Canada

18
Q

Organizations, such as pension and mutual fund companies, that trade in large-share quantities or dollar amounts. They typically have a steady flow of money to invest.

A

Institutional investor

19
Q

An individual licensed to transact in the full range of securities. He must be registered by the securities commission of the province in which he or she works. The term refers to employees of SRO member firms only. Also known as a Registrant or Registered Representative (RR)

A

Investment advisor (IA)

20
Q

The price at which the last trade on a stock occurred

A

Last price

21
Q
  1. The ability of the market in a particular security to absorb a reasonable amount of buying or selling at reasonable price changes. 2. A corporation’s current assets relative to its current liabilities; its cash position.
A

Liquidity

22
Q

Provides market data and a trading platform with access to multi-dealer competitive pricing for a wider range of corporate bonds and other types of fixed-income instruments. It is a member of IIROC

A

MarketAxess

23
Q

A trader employed by a securities firm who is authorized and required, by applicable self-regulatory organizations (SROs), to maintain reasonable liquidity in securities markets by making firm bids or offers for one or more designated securities.

A

Market maker

24
Q

That part of the capital market in which short-term financial obligations are bought and sold. These include treasury bills and other federal government securities, and commercial paper, and bankers’ acceptances and other instruments with one year or less left to maturity. Longer term securities, when their term shortens to the limits mentioned, are also traded here.

A

Money market

25
Q

An exchange that provides listing services and facilitates trading in securities listed on the NEO Exchange, TSX, and the TSX Venture Exchange.

A

NEO Exchange

26
Q

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

A

Over-the-counter market (OTC)

27
Q

A class of share capital that entitles the owners to a fixed dividend ahead of the company’s common shares and to a stated dollar value per share in the event of liquidation. Usually do not have voting rights unless a stated number of dividends have been omitted.

A

Preferred share

28
Q

The market for new issues of securities. The proceeds of the sale of securities in a primary market go directly to the company issuing the securities.

A

Primary market

29
Q

Individual investors who buy and sell securities for their own personal accounts, and not for another company or organization. They generally buy in smaller quantities than larger institutional investors.

A

Retail investor

30
Q

The market where securities are traded through an exchange or over-the- counter subsequent to a primary offering. The proceeds from trades in a secondary market go to the selling dealers and investors, rather than to the companies that originally issued the shares in the primary market.

A

Secondary market

31
Q

A marketplace where buyers and sellers of securities meet to trade with each other and where prices are established according to laws of supply and demand.

A

Stock exchange

32
Q

Ownership interest in a corporation’s that represents a claim on its earnings and assets

A

Stocks

33
Q

The largest stock exchange in Canada with over 1,700 companies listed on the exchange.

A

Toronto Stock Exchange

34
Q

An exchange that provides trading in securities listed on TSX and TSXV. Order price and volume information is publicly available. It is wholly owned by TMX Group Inc.

A

TSX Alpha Exchange

35
Q

Canada’s public venture marketplace, the result of the merger of the Vancouver and Alberta Stock Exchanges in 1999.

A

TSX Venture Exchange

CSC (12 decks)

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