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Post No Preference Order

An order that is eligible to interact exclusively with interest on the same exchange. The order will not route, and...

PNP Order

It stands for post no preference order; an order that is eligible to interact exclusively with interest on the same...

Fully Paid Share

A share of stock for which the issuer has no right to request more payments from the holder as payment...

Fully Paid Securities

Securities for which the issuer has no right to request more payments from the holder as payment has been completed...

Fully Paid

A term describing or designating securities for which the issuer has no right to request more payments from the holder...

MIDP Routing Strategy

An acronym for midpoint routing option/ strategy; the strategy allows traders to search midpoint liquidity on an exchange's order book,...

MIDP

An acronym for midpoint routing option/ strategy; the strategy allows traders to search midpoint liquidity on an exchange's order book,...

M-ELO

It stands for midpoint extended life order; an order (a non-display midpoint orders) that only executes against other same type...

Midpoint Extended Life Order

An order (a non-display midpoint orders) that only executes against other same type orders (midpoint extended life orders), but different...

National Best Bid and Best Offer

A quote that reports best terms available for trades at the national level- i.e., the highest bid price and lowest...