(i) The number of shares or bonds which are available for sale. (ii) A term used when there are a large number of shares for sale.
Société des Bourses Françaises (SBF)
This body applies regulations drawn up by the Conseil des Bourses de Valeurs to market operations of the French stock exchanges. Its activities include registering trades and listings and keeping investors informed of transactions.
Sociétés de Bourse
Member firms on the French Bourses. Sociétés de Bourse, previously known as Agents de Change, are empowered to conduct trade in securities and financial instruments, manage private and institutional portfolios, and set up and manage investment funds. Member firms are also entitled to deal as principals.
Specialist
A member of a US stock exchange who holds an exclusive franchise to trade in one or more securities on the exchange floor. The specialist in return is obliged to maintain a fair and orderly market in the stocks in which he or she is registered.
Split
The division of the outstanding shares of a corporation usually into a larger number of shares.
Spot commodity
The actual physical commodity, as opposed to the futures contract.
Spot month
The contract month closest to delivery or expiry.
Spot price
The price at which the spot or cash commodity is currently trading in the spot market.
Spread
(i) The difference between the bid and ask price of a security. (ii) The difference between the price of two related futures contracts. iii) For options, transactions involving two or more option series on the same underlying security.
Stag
One who applies for a new issue in the hope of being able to sell the shares alloted to him/her at a profit as soon as dealing starts.
