A position taken without any hedging or offsetting protection.
Example: A naked short means selling a stock you don't own or haven't borrowed, which is illegal in many markets.
NASDAQ generally refers to The NASDAQ Stock Market, a computerized system that facilitates trading and provides price quotations on more than 5,000 of the more actively traded over-the-counter stocks. Created in 1971, NASDAQ (National Association of Securities Dealers Automated Quotation) was the world’s first electronic stock market. The NASDAQ Stock Market is part of The NASDAQ OMX Group, Inc., which is the largest exchange company in the world.
The value per share of a mutual fund or ETF, calculated by dividing the total value of the fund’s assets by its number of shares.
Formula: (Assets – Liabilities) ÷ Outstanding Shares
NBBO, or National Best Bid and Offer, refers the best bid price and the best offer price available for each security at any given time aggregated across all competing market centers.
The face value of a security stated by the issuer. For bonds, it's the amount repaid at maturity; for stocks, it's often arbitrary and unrelated to market value.
When a trade is settled directly between counterparties without going through a Central Counterparty (CCP).
Risks: Higher counterparty risk.
A cash-settled forward contract on a currency, often used when the local currency is not freely tradable. Common in: Emerging markets (e.g., Chinese yuan, Brazilian real).
A platform that provides trade-related services (e.g., analytics, data, settlement) but does not match buy/sell orders directly.
The New York Stock Exchange.