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Lit Order

An order that is displayed in an exchange's system and hence is visible to all market participants for their action....

Losing One’s Shirt

A very bad investment/ project that wipes out all money expensed to establish it, while producing no sufficient profits to...

Locked Market

A market in which the bid and ask prices perfectly converge. In other words, a locked market occurs when one...

List-Based Algo

A trading algo (algorithm) that maintains a list of candidate trades to scan for execution. A list-based algorithm can be...

Locked-Limit Market

A futures market in which trading is halted because prices exceeded the exchange-defined daily limit. When a market is locked-limit,...

Liquidity Pool

A source of liquidity that is available for trading inside the transparency and scrutiny of organized exchanges. They operate with...

Listed Stock

A stock that is traded on a major or regional exchange (organized exchange) such as the New York Stock Exchange...

Large Accelerated Filer

An accelerated filer that meets a set of registration requirements at the end of its fiscal year in terms of...

Large-Cap Stock

A stock that is issued by a very large company, specifically with a market capitalization of ranging between $5-10 billion....

Long Dated

A long-dated contract or instrument is one with a maturity longer than one year (or two years in some  cases)....