Glossary

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Maintenance
According to NASD, the minimum amount of equity that must be maintained in a margin account.

Managed float
A system of floating exchange rates in which a government may intervene to change the direction of the value of the country's currency.

Margin
Allows investors to buy securities by borrowing money from a broker. The margin is the difference between the market value of a stock and the loan a broker makes.

Margin Account
A leverageable account in which stocks can be purchased for a combination of cash and a loan.

Marginal Trading
Making deals using leverage, when client has an opportunity to make deals with the amounts that exceed considerably the funds on the trading account.

Market
Organized informal system of goods, services or financial instruments trading specified by rules.

Market Maker
One who maintains firm bid and offer prices in a given security by standing ready to buy or sell round lots at his own expense on the secondary market.

Market Open
Trade resuming after weekends, holidays or after interruption in trading sessions.

Market Order
Order to buy or sell a stated amount of a security immediately at the market price obtainable.