The interest earned on a bond between interest payment periods (generally twice a year). A bond owner selling a bond before the next interest payment will receive the earned accrued interest on that bond from the buyer, who, in turn, will receive the full interest due on the payment date.

One company taking control of another by purchasing a majority or all of the target company's outstanding shares. An "unfriendly" or "hostile" acquisition attempt is usually characterized by an offer far in excess of the market value of the shares, which is meant to induce current stockholders into selling. The target company's management may retaliate by soliciting competing offers from other companies in hopes that a bidding war will frighten off the attacker.

A trade in which a single broker acts as the agent for both the buyer and seller. This can occur when a member firm simultaneously receives a buy and a sell order from two different customers but for the same number of shares in the same stock. When these orders reach the floor broker, he can easily cross them and complete the transaction, but only after going to the designated trading post for that stock and announcing the bid in case another broker is prepared to offer a better price.

An order to buy or sell that does not originate from the actual customer for whose account it is executed and who continues to bear all the risk.

A person who buys or sells for the account and risk of another. Generally, an agent takes no financial risk and charges a commission for his services.

A receipt that is issued by a U.S. depositary bank which represents shares of a foreign corporation held by the bank. Because ADRs are quoted in U.S. dollars and trade just like any other stock, they make it simple for investors to diversify their holdings internationally.

An open auction market where buyers and sellers compete in a centralized marketplace. The Amex typically lists small to medium cap stocks of younger or smaller companies. Until 1921 it was known as the New York Cumulative Exchange.

An option that may be exercised at any time between its purchase and its expiration date.

The receipt of an exercise notice by an option writer (seller) that obligates him to sell (in the case of a call) or purchase (in the case of a put) the underlying security at the specified strike price.

An option is at-the-money if the strike price of the option is equal to the market price of the underlying security.

Floor Brokers and Specialists interacting with quotes and orders on the floor of the New York Stock Exchange.

ABS is the NYSE’s electronic bond trading platform.  The system maintains, displays, and matches orders, entered by member firms, in a strict price and time priority basis.  ABS, primarily serves retail bond investors and disseminates bond quotations and last sale price reports on a real-time basis.