• Price of a share of common stock on the date shown. Highs and lows are based on the highest and lowest intraday trading price.
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| ||Common stock|
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| ||52 week hi/low prices: The highest and lowest Prices for the stock in the last 52 weeks.|
| ||Advance/decline line: A technical analysis tool representing the total of differences between advances and declines of security Prices. The advance/decline line is considered the best indicator of market movement as a whole.|
| ||Agency basis: A means of compensating the broker of a program trade solely on the basis of commissionestablished through bids submitted by various brokerage firms. Agency incentive arrangement. A means of compensating the broker of a program trade using benchmark Prices for issues to be traded in determiningcommissions or fees.|
| ||American depositary receipt: Is an instrument which is issued in the United States but based on foreign securities. This security facilitates trading and investment because it is quoted in terms of the U.S. Dollar. This compares to the initial situation of the underlying shares quoted and traded in currencies other than the U. S. dollar.Abbreviated ADR or ADRS. Certificates issued by a U.S. depositary bank, representing foreign shares held by the bank, usually by a branch or correspondent in the country of issue. One ADR may represent a portion of a foreign share, one share or a bundle of shares of a foreign corporation. If the ADR's are sponsored, the corporation provides financial information and other assistance to the bank and may subsidize the administration of the ADRs. Unsponsored ADRs do not receive such assistance. ADRs carry the same currency, political and economic risks as the underlying foreign share; the Prices of the two, adjusted for the SDR/ordinary ratio, are kept essentially identical by arbitrage. American depositary shares (ADSs) are a similar form of certification.Claims issued by U.S. banks representing ownership of shares of a foreign company's stock held on deposit by the U.S. bank in the foreign market and issued in dollars to U.S. investors.A negotiable certificate representing a given number of shares of stock in a foreign corporation; it is bought and sold in the American securities markets, just as stock is traded. ADRs are issued by a U.S. bank, consisting of a bundle of shares of a foreign corporation that are being held in custody overseas. ADRs can be sponsored, which means the corporation provides financial and other information to the bank, or unsponsored. While ADRs have the same currency and economic risks as the underlying foreign shares, they are much more convenient for U.S. shareholders to own since there are no problems in transferring securities from a foreign country or currency conversion.|
| ||Arbitrage: The simultaneous buying and selling of a security at two different Prices in two different markets, resulting in profits without risk. Perfectly efficient markets present no arbitrage opportunities. Perfectly efficient markets seldom exist.Strictly defined, buying something where it is cheap and selling it where it is dear; for example, a bank buys 3-month CD money in the U.S. market and sells 3-month money at a higher rate in the Eurodollar market. In the money market, often refers: (1) to a situation in which a trader buys one security and sells a similar security in the expectation that the spread in yields between the two instruments will narrow or widen to his profit, (2) to a swap between two similar issues based on an anticipated change in yield spreads, and (3) to situations where a higher return (or lower cost) can be achieved in the money market for one currency by utilizing another currency and swapping it on a fully hedged basis through the foreign-exchange market.Is a form of trading which attempts to profit by discrepancies in price due to location, funding, volatility, communications, response to information, or other differences. Typically, the price differences are small and only the quickest, most cost efficient or funding efficient parties participate. Compare with Risk Arbitrage.|
| ||Related Terms|
| ||52 week hi/low prices|
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