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Downtick Volume

The trading volume that occurs on downticks. In other words, it refers to the trading volume when stock prices decrease,...

Discount Brokerage

A firm (brokerage/ stockbroker) that facilitates securities trading at reduced costs (a discount) compared to a full-service broker. However, its...

Downtick

A trade price that is lower than the immediately prior trade price. It constitutes a trade (tick) at a smaller...

Leg

In the context of trading, a leg is a single position taken in a transaction. If a trader buys 100...

Minus Tick

A trade price that is lower than the immediately prior trade price. It constitutes a trade (tick) at a smaller...

Haircut

The percentages that are deducted from the market value of securities, but not of exempted securities, in long or short...

Collateral Run

A situation that is characterized by a rush by borrowers to get their collateral back from broker-dealers (the lenders). Such...

Bonafide Quote

A displayed quote representing a bid to buy or offer to sell a specific quantity of a security (or any...

Bona Fide Quotation

A displayed quote representing a bid to buy or offer to sell a specific quantity of a security (or any...

Firm Quote

A displayed quote representing a bid to buy or offer to sell a specific quantity of a security (or any...