Appendix C Markets Glossary
AskThere are often several resting limit orders to sell in any liquid market. Each of these orders has a price associated with it. These prices associated with offers to sell are called offers or asking prices. The lowest of these asking prices or offers is generally referred as “the ask” or “the offer” or the best offer. In a dealer market, the dealer or market maker will have a single offer or ask at which customers can buy from the dealer.
Basket TradeThis is a trade in which a group of securities, currencies or futures contracts is bought or sold with a single order. Fidelity, for example, will take basket orders for 2-50 securities, with a minimum size of $2,000.
BidThere are often several limit orders to buy in ...

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