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Title: Glossary

We have compiled this table of words and phrases commonly used by traders, and which you may frequently encounter on the Proquote site.
AIM Alternative Investment Market - part of the LSE regulated equities market designed for smaller/younger growing companies.
  Alerts   A facility allowing you to select a stock, a lower target price and an upper target price - you then enter your mobile phone number and if the stock moves outside the target window you have set you will be sent a text message (SMS) to indicate the price alert. Contact your mobile phone service provider for information on SMS. Only available to UK mobile phone network subscribers.  
  Ask (Offer)   The price at which the stock may be bought (the selling price in the market).  
  At best order   An order submitted to the electronic order book with a specified size which may execute, either in part or full, against eligible orders at the price of those orders with any unexecuted portion being rejected from the book.  
  Best_Bid_Vol   Volume available at current best Bid price.  
  Bid   The price at which the stock may be sold into the market (the buying price in the market).  
  Change   The difference between the first mid-price on the day and the current mid-price. Change is colour coded (red - down, blue - up, green - no change).  
  Chart   Request a chart showing the history for the currently selected stock. Charting is supplied through BigCharts.com.  
  Close   The closing price for the stock.  
  Closed   The exchange that a particular security is traded on is closed.  
  Country_Code   Country Code.  
  CREST   The paperless share settlement system through which trades executed on the Exchange's markets can be settled. CREST is operated by CRESTCo, and was introduced in 1996. See Settlement.  
  Currency   The currency column on the hotlist view shows the currency that a stock is quoted in. This is displayed in the ISO 4217 format plus GBX and USX for Great British pence and US cents. Common codes include GBP - Great British Pounds, GBX - Great British Pence, USD - US Dollars, USX - US Cents, EUR - Euros.  
  Daily Official List (DOL)   The daily record setting out the prices of all trades in securities conducted on the Exchange.  
  Delayed   The prices and volumes relating to the stock 15 minutes ago - see also, real time.  
  EPIC code   The symbol for each LSE stock - previously used naming convention.  
  Equity   The risk-sharing part of a company's capital, usually made up of ordinary shares.  
  Eurobond   An interest-bearing security issued across national borders, often in a currency other than that of the issuer's home country.  
  Execute and eliminate order   An order submitted to the electronic order book with a specified size and limit price which may execute, either in part or in full, against eligible orders at the price of those orders with any unexecuted portion being rejected from the order book.  
  Fill or kill order   An order submitted to the electronic order book with a specified size and, at the option of the member firm, a specified limit price which either executes in full against eligible orders at the price of those orders or is rejected in full from the order book.  
  Fixed-interest securities   Securities which attract a fixed rate of interest each year.  
  FSA   Financial Services Authority (formerly known as Securities and Investments Board). The agency appointed by the Government under the Financial Services Act to oversee the regulation of the investment industry.  
  FTSE   Financial Times/Stock Exchange indices, provided by FTSE International Ltd.  
  Futures   A futures contract is a contract to buy or sell securities or other goods at a future date at a pre-determined price.  
  High (Day high)   The highest mid-price occurring today. For stocks quoted in the Order Book (SETS/FTSE100 stocks) highs and lows are not as useful or meaningful as in the majority of stocks which are quote driven.  
  Hotlist   Your personalised list of up to 10 stocks which are automatically displayed when you connect to the service. To amend these entries, use the Edit Hotlist facility.  
  ISIN   ISIN Code of security.  
  LIFFE   London International Financial Futures and Options Exchange.  
  Limit order   An order submitted to the electronic order book with a specified size and price which is either held on the order book or executes, either in part or full, against eligible orders with any remaining unexecuted portion being added to the order book.  
  LMIL   London Market Information Link is the Exchange's main source of UK financial data for market professionals and information vendors.  
  Low (Day low)   The lowest mid-price occurring today. For stocks quoted in the Order Book (SETS/FTSE100 stocks) highs and lows are not as useful or meaningful as in the majority of stocks which are quote driven.  
  LSE   London Stock Exchange.  
  Long_name   Security Long Name.  
  Mid   The approximate average or mid-point between the bid and ask prices - see also, Bid and Ask prices.  
  Mandatory quote period   The time (09.00 - 16.30) when market makers on SEAQ and SEAQ International are obliged to make firm two-way quotes for the securities in which they are registered.  
  Member firm   An investment firm which is a member of the Exchange and which may deal in securities on the Exchange's market on behalf of its clients, or on behalf of the firm itself.  
  Mid_High   Highest Mid price reached during Firm market hours.  
  Mid_Low   Lowest Mid price reached during Firm market hours.  
  Mid_Price   Current Mid price on security.  
  News   Request details of any recent news items relating to a particular stock. News is provided through AFX News.  
  Normal Market Size calculation (NMS)   Normal market size (for the domestic equity market) is calculated for each security and based on a percentage of the security's average daily customer turnover in the preceding year. The percentage is intended to represent the normal institutional bargain. The percentage is set at 2.5 per cent.  
  No_trades   Number of trades.  
  Offer price   The selling price for securities in the market.  
  Option   The right (but not the obligation) to buy or sell securities at a fixed price within a specified period.  
  Order book   The collection of stocks whose prices are determined via the SETS order book rather than being quote-driven. Only around 100 stocks are currently included in the SETS order book but there are plans to extend this in due course to the main 250 stocks.  
  Password   A string of letters and numbers given to you when you registered with Proquote which is used to prevent unauthorised access to your information.  
  Price/Earnings ratio (P/E ratio)   The P/E ratio is a measure of the level of confidence investors have in a company (rightly or wrongly). Generally, the higher the figure, the higher the confidence. It is calculated by dividing the current share price by the last published earnings per share - where earnings per share is net profit divided by the number of ordinary shares.  
  Profile   Request details of the past three years trading history and summary business details for a selected stock. Profiles are provided through Hemmington Scott.  
  Public limited company (plc)   A company whose shares may be purchased by the public and whose share capital is not less than a statutory minimum. Not all plcs are listed companies.  
  Quote   Request a real time quote (price and trade details). Quotes are provided through AXL Performance Solutions, utilising the LSE LMIL data feed.  
  Real time   The current prices and volumes relating to the stock in question. A real-time price is a snapshot at the time requested and does not update unless refreshed. Real time prices only apply when the market is open.  
  RNS   The Exchange's Regulatory News Service - which ensures that price sensitive information from listed and AIM companies, and certain other bodies, is disseminated to all RNS subscribers at the same time.  
  SEAQ   Stock Exchange Automated Quotations system - the main set (segment) of equities traded on the London market.  
  SEAQ International   The Stock Exchange Automated Quotations system for international equities.  
  SEATS PLUS   Supports the trading of all AIM and listed UK equities whose turnover is insufficient for the market making system or SETS.  
  Sector_Status   A four character period code of current period of Sector to which this security belongs. Examples include:

OBT - Order Book Trading
MQP - Mandatory Quote Period

The full list (which is subject to regular amendment) is given on the London Stock Exchange website: www.londonstockexchange.com 		 
  SEDOL   SEDOL Number.  
  SETS   Stock Exchange Electronic Trading Service - stocks whose prices are set via the Order driven part of the London market (the Order Book) - these are typically the main traded stocks. There are three groups at present, SET1, SET2 and SET3. SET1 stocks are roughly equivalent to the FTSE 100 plus a few additional stocks.  
  Settlement   The process of transferring stock from seller to buyer and arranging the corresponding movement of money between the two parties (see CREST).  
  Short_name   Short form of Security Name.  
  SMS   Short message service (for mobile phones) - see also, Alerts.  
  Spread   The difference between the buying (offer) and selling (bid) prices.  
  Stock code search   Search for a stock code - you can enter any number of characters (at least two are required) including spaces from the start of the stock name you are seeking.  
  Stock_Status   Security can be closed, suspended, or execution halted independent of its Sector.  
  Symbol   A unique identifier for each stock traded on the London market. See also, Stock code search, TIDM, EPIC code.  
  Tick_size   Minimum division of a valid price.  
  TIDM   Tradable Instrument Display Mnemonic) The Symbol for each LSE stock - currently used naming convention.  
  Touch   The best buying and selling prices available on SETS or from a market maker on SEAQ or SEAQ International in a given security at any one time.  
  Trades   The number of trades today.  
  3rd_trade_Vol   Volume of 3rd most recent trade.  
  4th_trade_Vol   Volume of 4th most recent trade.  
  5th_trade_Vol   Volume of 5th most recent trade.  
  Username   The name used by Proquote to identify you uniquely - a username and password for Proquote are required for price retrieval.  
  Volume   The Cumulative volume of trades for today.  
  VWAP   Volume Weighted Average Price, which is calculated by dividing the value of trades by the volume over a given period. A closing 10 minute VWAP is used to set closing prices on the order book.  
  Yellow strip   The yellow band on a SEAQ or SETS screen which displays the highest bid and the lowest offered prices that competing market makers are offering in a security. They are known colloquially as the 'touch' or 'yellow strip' prices.  

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