Super Finance Glossary

Over 10,000 financial glossary terms...

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Browsing by the letter "O"

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Open On The Print
Definition: Used in the context of general equities. Block trader's term for a block trade that has been completed with an institutional client and printed on the consolidated tape, but leaves the block trader with stock available (because the trader has taken a long or short position to complete the trade) for new customers who are on the opposite side of the market to the initiating customer.
Open Order (good-till-cancelled, GTC Order)
Definition: Order to buy or sell a security that stays active until it is completed or the investor cancels it.
Open Order (or Orders)
Definition: An order that remains in force until it is canceled or until the futures contracts expire. See Good 'Till Canceled and Good This Week orders.
Open Outcry
Definition: A method of public auction, common to most US commodity exchanges, where trading occurs on a trading floor and traders may bid and offer simultaneously either for their own accounts or for the accounts of customers. Transactions may take place simultaneously at different places in the trading pit or ring. At most exchanges outside the US, open outcry has been replaced by Electronic Trading Platforms. See Specialist System.
Open Policy
Definition: A marine cargo insurance policy issued to cover various unspecified exports over the life of the policy.
Open Position
Definition: A net long or short position whose value will change with a change in prices.
Open Repo
Definition: A repurchase agreement with no definite term. The agreement is made on a day-to-day basis, and either the borrower or the lender may choose to terminate. The rate paid is higher than on overnight repo and is subject to adjustment if rates move.
Open Trade Equity
Definition: The unrealized gain or loss on open futures positions.
Open Up
Definition: Used in the context of general equities. Disclose more information (e.g., the exact price and quantity of one's potential interest). See: Put pants on it.
Open-end Credit
Definition: Revolving line of credit that is extended with every purchase or cash advance.
Open-end Fund
Definition: Used in the context of general equities. Mutual fund that continually creates new shares on demand. Mutual fund shareholders buy the funds at net asset value and may redeem them at any time at the prevailing market prices. Antithesis of closed-end fund.
Open-end Lease
Definition: A lease agreement that provides for an additional payment at the expiration of the lease to adjust for any change in the value of the property.
Open-end Mortgage
Definition: Mortgage against which additional debts may be issued. Related: Closed-end mortgage.
Open-market Operation
Definition: Purchase or sale of government securities by the monetary authorities to increase or decrease the domestic money supply.
Open-market Purchase Operation
Definition: A systematic program of repurchasing shares of stock in market transactions at current market prices, in competition with other prospective investors.
Open-market Rates
Definition: Interest rates that are determined in the open market by supply and demand, as opposed to being set by the Federal Reserve Board.
Open-outcry
Definition: The method of trading used at futures exchanges, typically involving calling out the specific details of a buy or sell order, so that the information is available to all traders.
Opening
Definition: The period at the beginning of the trading session officially designated by an exchange, during which all transactions are considered made "at the opening." Related: Close.
Opening Bank
Definition: A bank which establishes a letter of credit.
Opening Price
Definition: The range of prices at which the first bids and offers are made or the first transactions are completed on an exchange.
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