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Banking

Positive Carry

A carry (net financing cost) in which the profit (current yield) earned from a funded asset/ investment (e.g., a security)...

Participate Algo

A trading algo (algorithm) that is used by electronic traders to execute orders at a constant participation rate in sync...

Price Improvement

The process of filling (or executing) an order at a better price than the best market bid and offer (e.g.,...

Partial Fill

An order that is not completely filled, i.e., it is partially executed. This means that only a part of the...

Ping Order

A trading order that rests for a while on a dark platform in search of large hidden orders. Ping orders are typically used to locate...

Pinging

The process of sending out small orders to uncover the existence of large buyers or sellers (large bids or offers) in a matching engine/ venue (e.g., a dark...

Parent Order

A large block of shares that can be sliced by dividing it into smaller lots (known as the child orders) in execution of...

Pass-Through Order

A trading order that remains in a designated venue for a single matching cycle and after completion of the cycle any unfilled portion will be routed...

Price Limits

A regulatory response to a state of extreme volatility in the market whereby policymakers require all trade prices to stick...