Low-priced stocks selling at less than USD1 a share, often highly speculative.
Perpetual
A security without a time limit for redemption.
Pink sheets
A list of securities which are traded by OTC market-makers, published by the National Quotations Bureau; the price quotations for equity securities are published on pink sheets, those of debt securities on yellow sheets.
Pip
1/100 of 1% of the nominal value of a security.
Pit
Point
The smallest increment of price movement possible in trading a given futures contract.
Portfolio
A collection of securities held by an investor.
Position limit
The maximum position, either net long or net short, in one commodity future or in all futures of one commodity combined which may be held or controlled by one person.
Preferential form
The London Stock Exchange allows companies offering shares to the public to set aside up to 10% of the issue for applications from employees and, where a parent company is floating off a subsidiary, from shareholders of the parent company.
