|
Brokerage: Glossary J
Joint Tenants with Rights of Survivorship: Form of ownership where two or more account holders agree that, upon the death of one account holder, ownership of the remaining account assets passes to the remaining account holders. This transfer of assets avoids probate, but estate taxes may be due. KNo current terms. LLast-Sale Reporting: An electronic entry by FINRA members detailing the price and number of shares involved in a securities transaction. The trade reported must be submitted to the FINRA within 90 seconds of the execution of the trade. Lead Manager: The lead manager is the underwriter that has ultimate control of the offering, including the number of shares allocated to each co-manager, the roadshow process, and the price of the deal. Other underwriters are called co-managers. The names of the managers appear on the front page of the prospectus. LEAP: Long-Term Equity Anticipation Security. LEAPs are long term equity options and normally expire in two to five years. Limit Order: An order to buy or sell a stated quantity of a security at a specified price or at a better price. Lock Up Period: The lead underwriter will generally restrict insiders from selling their shares for a certain period of time. In many cases, that period is 180 days but it could be less. Long: Indicates ownership. "I'm long 100 Cisco" indicates the speaker owns 100 shares of Cisco.
|
|||||||