An order to buy and sell a security that remains in effect until it is either cancelled by the customer or executed
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The amount that has to be deposited with the Clearing Corporation before the purchase or sale of a security.
A process whereby buy and sell orders from different parts of the country come into the trading system and get matched on price time priority and lead to execution of a trade.
An order that is placed for execution, if possible, during only one trading session. If the order cannot be executed that day it is automatically cancelled.
Custodians are institutional intermediaries who are authorized to hold funds and securities on behalf of large institutional investors such as banks, insurance companies, mutual funds and foreign portfolio investors. They settle the secondary market trades for institutional investors. Several Custodians are also clearing members and clearing banks of the Exchange […]
A note issued by a broker to his client setting out the number of securities bought or sold in the market alongwith the rate, time and date of contract.
Where a party to a contract does not make delivery against sale or payment against delivery, the other party can close out the transaction against the defaulting party. The gain or loss arising from the closing out is borne by the defaulter.