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Contra-Side Order

The opposite side of an order (usually in relation to a block trade). Essentially, brokers or broker-dealers help market participants...

Carrying Firm

A brokerage firm that handles a customer's orders to buy and sell securities, and additionally maintains custody of the customer's...

Clearing Firm

A brokerage firm that handles a customer's orders to buy and sell securities, and additionally maintains custody of the customer's...

Waiting Period

A quiet period of time that precedes the release of a new security or the window of time that follows...

Sideways Drift

A market condition in which stocks are traded within a relatively flat range. That is, prices fluctuate around the average...

Cooling-Off Period

A quiet period of time that precedes the release of a new security or the window of time that follows...

SNAP MID Order

It is short for snap to midpoint order; an order in which the original order price is set based on...

Snap to Midpoint Order

An order in which the original order price is set based on the current bid-ask spread plus or minus an...

Midpoint Peg

A type of non-displayed order that is pegged to the average of the National Best Bid (NBB) and National Best...

M-Peg

It stands for midpoint peg; a type of non-displayed order that is pegged to the average of the National Best...