%Change

The percentage change in price between the latest closing price and the previous closing price.

The rise or fall in price of the security between the current and previous trades. A positive quantity means the price has risen. A negative quantity means the price has fallen.

50 Leaders Index

A share price index measuring price movements in 50 leading stocks listed on the Australian Stock Exchange.

Accumulation Index Values

Accumulation indices are based on the same companies that form the price indices. Unlike price indices, which exclude income (that is, dividend) from share investments, accumulative indices measure movements in both price and dividend income. Accumulation index values tend to be higher than price index values, and are calculated once daily after the close of trading. (Expressed as points to one decimal place.)

All Ordinaries Index

A share price index measuring the market prices of the major stocks listed on the Australian Stock Exchange (ASX). Not all of the companies listed on the ASX make up this index. This index is also broken into a series of sub-indices including the All Resources, All Industrials, the 50 Leaders and a series of sector indices such as mining, media, transport, and so on.

Annualised Return

The annualised return of the security, expressed in percentages. The annualised return is the effective annual rate of return. Sometimes called the Annual Percentage Yield - APY.

Annualised Return = [(Time Value) X 36500]/[(Last Price) X (Number of days to expiry)]

Annualising

To convert the rate of return from a period of less than one year to an annual (yearly) basis.

Annuity

Annuities are fixed-amount payments paid at regular intervals over the specified period of the annuity. Annuity arrangements are usually made for the purposes of retirement income, where periodic payments are made to a person in return for the investment of a lump sum.

Application Capital

The amount of money payable as capital (par value) upon application to participate in an issue.

Application Close Date

The date until which applications to participate in a cash share issue will be accepted by the issuing body.

Application Premium

The amount of money payable as a premium (excess over par value) upon application to participate in an issue. It may also relate to subsequent calls on contributing shares. If a negative value, this amount represents the discount applicable.

Arithmetic Scale, Linear Scale

A scale where distances on the vertical axis represent equal net changes.

Ask

The lowest price any seller will accept for the security at the given time.

ASX Code

A code allocated to identify securities and derivative products.

For Equities, Interest Rate Securities, Convertible Notes and Company Options: The first three characters (Issuer Code) are a code assigned to the issuing body, and the last three characters (Security Code) are a code allocated to each security pertaining to an issuing body. In the case of ordinary shares, the last three characters are generally blank filled.

For Exchange Traded Options: The first three characters refer to the underlying security; the fourth character is an identifier for the expiry month and type of Option (Put/Call); and the fifth character is an identifier for the particular series.

For Warrants: The first three characters refer to the underlying security; the fourth character is either a 'W', ‘I’, ‘E’ or ‘X’ signifying a warrant group; the fifth character indicates the warrant issuer; and the sixth character identifies the warrant series.

For Futures: The first two characters identifies the underlying security or commodity and is known as the commodity code. The third character identifies the trading month, where:

The fourth and fifth characters identify the trading year. If there is a sixth character, then D refers to Day contracts and N refers to Night contracts. So, for example, AFU01D would refer to the Australian Dollar Futures, in September 2001, for Day contracts.

Asset Backing

This refers to the net assets owned by shareholders of a company at the balance date. (Expressed in dollars and cents.) Also known as Net Tangible Assets (NTA).

AssetBkg

Abbreviation for Net Tangible Asset Backing Per Share. That is, the value of the company's assets divided by the number of shares. (Tangible assets are physical assets you can touch. This does not include good will or public profile, for example.)

Australian Stock Exchange (ASX)

The principal exchange for trading in shares, bonds and certain other securities in Australia.

Authorised Capital

The maximum number of shares, valued at their face value, which a company is permitted to issue under its rules.

Basis of Quotation

The Basis of Quotation indicates the status under which a security is quoted. In the case of trades, this field will only contain a value if the respective committees to trade outside the current stated Basis of Quotation have granted special permission.

NOTE: Standard trading incorporates a fixed settlement period of five business days (T).

Bear Market

When security prices for a large part of the market drop significantly and there is widespread belief that the market will decline. Bear markets are generally shorter in duration than bull markets.

Bid

Bid Price: The highest quoted price that any prospective buyer will pay for the security at the given time. The bid price is the actual market price for a share, regardless of the price of the last sale.

Bonds

Bonds are debt securities - you are loaning money to an entity (company or government) that needs funds for a defined period of time at a specified interest rate. In exchange for the bond holder's money, the issuer issues the bond holder a certificate, or bond, that states the interest rate the bond holder is to be paid and when loaned funds are to be returned (maturity date). Interest on bonds is usually paid every six months (semi-annually).

The higher rate of return a bond offers, the more risky the investment is likely to be. There have been instances of bond issuers failing to pay back the bond (defaulting). Many corporate bonds will offer a higher return than a government bond to entice investors. Research a bond just as you would do with a stock or mutual. The bond rating will help you to decipher the default risk.

Bond Rating

A system used to measure the relative credit worthiness of bond issues. This system uses rating symbols that range from the highest investment quality (least investment risk) to the lowest investment quality (greatest risk).

Bonus Issue

Shares issued free by a company to its current shareholders as a result of the capitalization of profits. The shares are issued in proportion to a shareholder's holding - for example, one bonus share for every five shares held.

Book Close, Books Closing Date

This is the date a share registry is closed off after the declaration of a dividend, for the determination of the amount to be paid to each shareholder.

Book Value

The net dollar value that securities carry on a balance sheet. Book value often refers to the price paid for the security, as opposed to its current or market value.

BOQ

This is the Basis of Quotation.

Bull Market

When security prices for a large part of the market are rising. This is the opposite of a bear market.

Buyer Identification

A four-digit number used to identify the broker who made the trade.

Buyer Name

The name of the buyer for the given trade.

Calculated Ratio Code

The six character security code describing the calculated ratio. The first three characters refer to the Issuer Code for the listed security, while the last three characters represent the index against which the security's relative performance is being measured.

Call Options

An option that gives the option holder the right, but not the obligation, to buy a specified number of securities on or before a specified date (expiry or maturity date) for a specified price (exercise price).

Call Trades

The total number of trades in Exchange Traded Call Options so far that business day. This figure includes Call LEPOs (Low Exercise Price Options).

Call Turnover

The total value of trades in Exchange Traded Call Options so far that business day. This value reflects the price multiplied by number of contracts traded multiplied by the number of shares per contract or contract multiplier. This figure includes Call LEPOs (Low Exercise Price Options) and is expressed in dollars.

Call Warrant

A call warrant is a contract between two parties giving the holder the right, but not the obligation, to buy securities from the issuer of the warrant at a specified price (exercise price) on or before a specific date (expiry date). The issuer of the warrant must sell at the agreed price if the holder decides to exercise the warrant on or before the expiry date. Holders may actually need to buy several warrants to cover a single security.

Cap Return

Abbreviation for the Capital Return.

Capital Markets

The markets for medium to long-term investments (i.e. investment of three years and over in securities such as shares and bonds), as distinct from the money market, which is for shorter term investments.

Capitalisation

The sum of all the securities issued by a corporation multiplied by the price of those securities. Capitalisation can include bonds, debentures, preference shares ordinary shares.

Market Capitalisation is the sum of all the securities issued by a corporation multiplied by the current market price of those securities. It is a measure of a company's capitalisation in strictly market price terms, as opposed to the price those securities could fetch off market.

Certificate of Deposit (CD)

A type of debt security. A CD is a certificate by a bank or financial institution entitling the bearer to receive interest. The certificate bears a maturity date and a specified interest rate, and can be issued in any denomination.

Certificated Sub-Register Indicator

Indicates whether the Issuing body maintains a Certificated Sub-register for this security. 0 - No Certificated Sub-register exists for this security, 1 - A Certificated Sub-register does exists for this security.

Change Sign

Indicates the change direction of an index group value or security price since the start of the trading day.

CHESS

An abbreviation for Clearing House Electronic Subregister System.

CHESS Eligibility Indicator

An indicator designating the status of each security in relation to the CHESS (Clearing House Electronic Sub-registry System). Values include:

·         0 - Security not eligible to participate in CHESS.

·         3 - Interim CHESS Phase 2 Status. (Non DvP settled. New trades to CHESS, CHESS sub-register open)

·         4 - CHESS eligible. Both monetary and share settlement are performed by CHESS. (CHESS phase 2 - DvP -settled).

CHESS Exception Indicators

Single character code indicating CHESS exception conditions for a security. Values are as follows:

·         S - shareholder reference number is mandatory on certificated to/from CHESS transactions.

·         P - Personal Identification Number (PIN) is mandatory for Issuer Sponsored to CHESS Transactions.

·         C - Indicates the security is a CHESS Depositary Interest (CDIs).

·         F - Indicates the security is subject to foreign ownership restrictions and that the issuer has agreed to administer such Foreign Ownership restrictions through CHESS.

Class C Franked Amount

The amount of a dividend (comprising both cash and scrip) which has been franked at 30%.

Clearing House Electronic Subregister System (CHESS)

An electronic transfer and settlement system introduced by the Australian Stock Exchange in 1995 to replace the Flexible Accelerated Securities Transfer (FAST) system. CHESS replaces physical transfer documents in the share settlement process. It automatically issues updated holdings statements to the investor, and details of all share holdings on its register to the stock issuer.

Closing Price

The price for a security at which the last trade took place on a given business day.

Common Stock

Another term for Ordinary Shares.

Condition Code

A two-character code indicating the condition(s) under which the trade/sale was effected.

Convertible Notes

Fixed interest securities (usually bonds or preferred shares) issued by a company to a lender in return for cash. The investor has the option of converting these securities into ordinary shares in the issuing company at a prescribed price or ratio at specified times. Convertible Notes are attractive to some investors in that they may display certain properties of both shares and fixed interest securities. They can be good for investors demanding greater potential for appreciation than what bonds provide, and higher income than what common stocks offer.

Contract Note

A written document confirming a transaction struck between two traders or between a broker and a client. Also called a confirmation note.

Contract Note Attention

A code that signifies contract notes for a security require some special attention before mailing to the client. Values are as follows:

·         CA - Certified copy of appropriate extracts are acceptable.

·         MN - Memorandum and articles of association are not required for noting.

·         MR - Memorandum and articles of association are required for noting.

·         OP - Memorandum and articles of association are only required when one person signs under seal.

·         SD - Statutory declaration required when buying securities.

·         SR - Security renunciation form required when selling rights. This value may be a default because it applies to all right securities.

·         TA - Transference acceptance forms required when buying securities.

·         WT - Standard transfer form or special transfer form is required to effect change in holding.

Cumulative Sale Value, Cumulative Contract Value

The total monetary value of shares transacted during the day. For ASX Futures and Share Ratio Contracts, it is the total of the Sale Contract Value traded during the day. (Expressed as dollars and cents.)

Cumulative Sale Volume, Cumulative Contract Volume

The total number of shares transacted during the day. For ASX Futures and Share Ratio Contracts, it is the total number of contracts transacted during the day.

Current Dividend Amount

The cash dividend amount of the most recently announced dividend, payable in cents per security, net of withholding tax.

Debt Security

A security representing a loan by an investor to an issuer. For example, bonds, certificates of deposit and debentures. In return for the loan, the issuer promises to repay the debt on a specified date and to pay interest. Issuers can include corporations, municipalities, the federal government or a federal agency.

Decline

A decline is a decrease in the general price level of the market or an individual security. Declines show that supply is greater than demand.

Delta

The expected change in the price of a derivative given a change in the value of the underlying security. Call options have positive deltas, while put options have negative deltas; in both cases the delta typically changes as the option's experimental date approaches. This is sometimes referred to as the hedge ratio.

Debenture

A debt security backed by the credit of the issuer and not by a specific security. There is no collateral, and the agreement is documented by an indenture. The yields may vary from high to low depending on who backs the debenture.

Derivative

A security, such as an option or futures contract, whose value depends on the performance of an underlying security.

Despatch Date

The date upon which the issuing company will allot securities and either despatch certificates or enter the securities into the security holder's uncertificated holding. The Despatch Date marks the end of a deferred settlement period (see Deferred Settlement Indicator). NOTE: since ASX Listing Rules do not require disclosure of the despatch date for unquoted securities (Quoted Security Indicator '2'), the despatch date for these securities may show a default date calculated as the maximum date permitted under the Listing Rules. This default date is indicative only and is not enforceable under the Listing Rules.

Dividend

The amount of a company's after-tax earnings that it pays to shareholders.

Dividend Paid Months

Represents the month(s) in which an issuer has historically paid a dividend over the last 4 payments. Where 01 = January, 02 = February, and so on. The most recent month appears first. Please note that the year will not be indicated.

Dividend Payable Date

The date on which the most recently announced dividend becomes/became due and payable to security holders.

Dividend Rate Per Share

Annual dividend per share. This is the amount of profit paid per share in the latest year.

More specifically: A rolling 12 months (latest half year plus prior half year) dividend rate per share as declared by the issuer and adjusted by dilution factors resulting from bonus/rights issues or capital reconstruction. Each half yearly Dividend Rate per Share figure excludes any special cash or scrip dividend declared nearest to that half year. For quarterly dividends, the rolling 12 month figure is calculated on a quarterly basis.

The dividend rate per share is expressed in cents to two decimal places.

Dividend Type

A code indicating the type of dividend to be paid. Where I = Interim, F = Final

Dividend Yield

The dividend yield is the annual dividend per share as a percentage of the most recent share price. (DivP/S divided by Last times 100)

Earning Rate Per Share

The amount the company earned divided by the number of shares. The earnings are taken from the most recent Annual report. A negative sign indicates the company lost money.

More specifically: A rolling 12 months (latest half year plus prior half year ) earnings per share as announced by the company and adjusted by dilution factors resulting from bonus/rights issues and capital reconstruction.

The earning rate per share is expressed in cents to two decimal places.

Earnings Yield

The earnings yield is the annual earnings per share as a percentage of the most recent share price. (EarnP/S divided by Last times 100)

Entitlement Multiples

The right to new shares is calculated on an individual basis. Entitlements to these new shares may only be available in certain specified multiples. The remainder, depending on Company policy, to be rounded up or down (refer fractions rounding).

Equity, Equities

Another word for stock, share or securities representing an ownership interest. On the balance sheet it is the monetary value of a security or of an interest in a security in excess of claims or debts against it.

Exchange Traded Options (ETOs)

Options that are bought and sold on the options market operated by ASX Derivatives.

Ex Date

The date from which the holder of a security retains their rights to benefits associated with owning the security.

Exercise Price

This is the stated price per share, which an option-holder may purchase (for a call) or sell (for a put) underlying securities upon exercise of the option contract. Also called the Strike Price.

Face Value

The issue price for Interest Rate Securities and Convertible Notes. For Interest Rate Securities, this represents the trade unit value (usually $100). For Convertible Notes, this represents the issue price. Face value is ordinarily the amount that the issuer promises to pay at maturity and is not an indication of current market value.

Fair Value

The value of an option or futures premium according to a mathematical model. If the futures are above fair value then traders are betting the market index will go higher, the opposite is true if futures are below fair value.

Falls

The number of equities, convertible notes and company options, which have fallen in price from either:

·         the last trade price of the previous trading day, or

·         a theoretically derived opening price.

FAST

Abbreviation for Flexible Accelerated Securities Transfer.

FAST Indicator

Indicator designating the status of each stock in relation to the FAST (Flexible Accelerated Security Transfer) system. FAST is the interim measure that the ASX has implemented in developing a long term electronic transfer system. Values include:

·         0 - Security not eligible to participate in FAST

·         1 - Security eligible to participate in FAST

·         2 - Security is eligible for delivery through the FAST Interbroker Delivery Service (FIDS) and eligible to participate in FAST.

Fifty (50) Leaders Index

A share price index measuring price movements in 50 leading stocks listed on the Australian Stock Exchange.

Final Dividend

The end of year dividend. Profitable companies often pay dividends twice per year, an interim and a final dividend, the latter normally being the larger of the two. The final dividend is announced by the company directors at its annual general meeting. Shareholders have the option of voting to accept the dividend or to reduce it, but they cannot increase it.

First

The price of the first on market trade of the security for the day.

First Active Date

The date on which a security or calculated ratio is first entered in or converted to the securities database of the Australian Stock Exchange. For derivative products (Exchange Traded Options, Share Ratio Contracts, ASX Futures and Warrants), this is the trading commencement date. For calculated ratios this is the first date on which they are/were published.

First Quoted Date

The date on which a security starts official quotation on the market of the Australian Stock Exchange.

Fixed Interest Security, Fixed-Income Security

An investment that provides a return in the form of fixed periodic payments and eventual return of principle at maturity, such as income derived from bonds, annuities and preference shares. Generally these types of securities offer a lower return on investment, since the income is fixed.

Flexible Accelerated Securities Transfer.

The electronic share settlement system used by the Australian Stock Exchange prior to the introduction of the CHESS system in 1995.

First Settlement Date

Date on which trades executed on a deferred delivery basis are due for settlement.

Financial Market

A generic term for the markets in which financial securities are traded, e.g. stock exchanges, futures exchanges, currency markets. See also Capital Markets, Money Market.

Foreign Currency Indicator

A code that indicates that an issuing body is a foreign company and therefore Dividends will be converted to Australian currency. For Diary Adjustments the conversion is done the evening prior to the adjustment or effective date using the latest published exchange rates.

Foreign Listing Indicator

Indicates whether the issuer is listed as a foreign or exempt foreign company. Values are as follows:

·         ' ' = (blank) Domestic

·         F = Foreign

·         X = Exempt Foreign

Fixed Settlement Type

Indicates whether the security will be subject to fixed period settlement and if it is possible to borrow securities through the Securities Lending Service (SLS). Values include:

·         " " = Not subject to fixed period settlement

·         L = Subject to fixed period settlement and securities available through SLS

·         M = Subject to minimum settlement period

·         T = Subject to a fixed period settlement. No securities available through the SLS.

Franked Percent

Expressed as a percent to two decimal places, this is the portion of the dividend on which taxation has already been paid.

Futures Codes

Refer to definition under ASX Code.

Futures Contract

A futures contract is a legally binding agreement, which obliges the buyer to purchase, and the seller to deliver/sell, a commodity or security on an agreed date for an agreed amount. If you own a futures contract, you have the right and obligation to buy or sell the specified commodity/security some time in the future at the price specified in the contract.

Futures Exchange

A market in which futures contracts are transacted. A number of futures exchanges exist overseas for trading in physical commodity futures, e.g. wheat, cotton, sugar, as well as financial futures. In Australia, the Sydney Futures Exchange has operated since 1960, dealing firstly in wool futures, then gold and other commodities including live cattle and finally moving into financial futures in the late 1970s after overcoming Commonwealth Treasury objections.

Gamma

The rate of change of delta with respect to the underlying security's price.

Gross Dividend Amount

The calculated gross dividend per eligible security. Expressed as cents to two decimal places.

Hedging

Making an investment to reduce the risk of adverse price movements in a security. Normally, a hedge consists of a protecting position in a related security, such as short selling to make up for previous purchases, or buying long to offset a previous short sale.

High Price

The highest on market price traded for a security on a given business day.

Home Branch

Each company has a home exchange branch responsible for all listing requirements relating to the company. The home branch can be any of the six exchange branches located in state capitals. Values are as follows:

·         2 = Sydney

·         3 = Melbourne

·         4 = Brisbane

·         5 = Adelaide

·         6 = Perth

·         7 = Hobart

Incorporation Status

A code to represent whether an issuing body is a No Liability, a Limited Liability, or not an Incorporated company. U = Unlimited Liability (Unincorporated), L = Limited Liability, N = No Liability.

Index

A numerical measure of the price performance of a group of securities.

Index Code

A three letter code which uniquely identifies an Index Group.

Index Change

The change in value of an index (from its start of day value) so far that business day.

Index Group

The index group defines the specific activities of different security groups.

Index Makeup

The Index Makeup shows the data for all the indices to which a particular security belongs.

Index Participation Indicator

Indicator to determine if a stock participates in an index. 0 = No participation, 1 = Participates in an index.

Indicators

Technical indicators are signals or statistics that can be useful in determining an appropriate trading strategy. The value of an indicator is usually derived from a mathematical calculation based on a security's price (open, high, low, close) or volume. Investors can use this value to anticipate future price movements. Indicators are plotted within security price charts.

Industry SubGroup

The industry sub-group defines the specific activities of different security sub-groups within groups.

Interest Rate

The rate of return earned on an investment, or charged by a lender, expressed in the form of a percentage per annum.

Interim Dividend

A dividend paid during the financial year, not at the end. Profitable companies typically pay dividends every half-year.

International Securities Identification Number

A code that uniquely identifies all securities and derivatives products. The ISIN has three components:

1.      a two letter country code

2.      a nine character (letters and or digits) basic value which is the existing national security number for the security, padded to the left, as necessary, with zeroes.

3.      a one digit check digit.

The organisation that allocates ISINs in any particular country is the National Numbering Agency (NNA).

Intrinsic Value

This is the difference between the market value of the underlying security and the exercise price of the exchange traded option. The intrinsic value is never less than zero, so any negative value is represented by a zero.

Intrinsic Value Last Price = Exercise Price

Investment

An asset acquired for producing income and/or capital gains for its owner.

ISIN

An abbreviation for International Securities Identification Number.

Issued Capital

The proportion of a company's authorised capital that has been issued in the form of shares.

Issuer

The issuer is the entity that offers or proposes to offer its securities for sale. The issuer of an option is usually referred to as the writer.

Issuer Code

A code assigned to each issuing body. This field may be suffixed with the Security Code to make up a unique ASX Code.

Issuer Name

The full legal name of an issuing body (that is, the issuer of a security - usually an ASX listed company).

Issuer Sponsored Sub-Register Indicator

Indicates whether the Issuing body maintains an Issuer Sponsored Sub-register for its security. 0 = No Issuer Sponsored Sub-register exists for this security, 1 = An Issuer Sponsored Sub-register does exist for this security.

Issuer Type

The classification of the issuing body, where:

·         I = Industrial

·         M = Mining

·         O = Oil

·         A = Australian Government

·         S = State/Semi-Government

·         U = Undefined

Issuing Currency Indicator

Indicates the currency in which a security is issued. This field will generally be the same as the Foreign Currency Indicator, unless the currency for an issued security differs from the Issuer currency.

Lagging Indicators

These are trend-following indicators that indicate the performance of a security in the recent past. Lagging indicators change when the price has started to trend and so are useful when stock prices are actually trending.

Last Price

The last traded price for a security on a given business day.

For derivative products (Exchange Traded Options, ASX Futures Contracts, Share Ratio Contracts or Warrants), this is the last day on which the product is available for trading i.e. the expiry date. For a Calculated Ratio, this is the date of removal from the securities database of the Australian Stock Exchange.

Last Quoted Date

The date on which a security ceases to be recorded on the securities database of the Australian Stock Exchange, for reasons other than suspension. For quoted securities, this is the last day on which the security is quoted for trading.

Leading Indicators

These are indicators that predict future performance. Most leading indicators are oscillators and generally change before the stock price starts to follow a particular trend.

LEPO, Low Exercise Price Options

A derivative contract developed by the Australian Stock Exchange in 1994 that has a lower exercise price and, as a result, provides greater leverage than a standard call option.

Linear Scale, Arithmetic Scale

A scale where distances on the vertical axis represent equal net changes.

Logarithmic Scale

A scale where distances on the vertical axis represent equal percentage changes.

Long

A Long position is the name for a person owning a security. Usually means a trader who has bought more of a particular security than he or she has sold.

Low Price

The lowest traded price for a security on a given business day.

Market Depth

The queues of potential buyers and sellers of securities.

Market Capitalisation

Market capitalisation is a measure of the company's value calculated by multiplying the Last price per security by the Total Issue.

Market Value

The current value of the given securities, as opposed to their book value.

Maximum Application Money

Expressed as cents, this is the maximum amount of money payable upon application to participate in an issue.

Minimum Application Money

Expressed as cents, this is the minimum amount of money payable upon application to participate in an issue.

Money Market

The market for trade in short-term securities such as Bills of Exchange, Promissory Notes and Government and Semi-Government bonds. Participants in the money market include banks and other financial institutions, life offices, sharebrokers, superannuation funds and Government authorities. See also Capital Market.

Net Tangible Assets (NTA)

This refers to the net assets owned by shareholders of a company at the balance date. (Expressed in dollars and cents.) Also known as asset Backing.

NTA

An abbreviation for Net Tangible Assets.

Open Interest

OI stands for Open Interest (also known as Open Position) and is the number of contracts, for a security, that were still open/available on a given business day. This is only relevant to underlying securities - that is, securities for which options can be traded on the options market.

Open Position

This is the Open Interest

Open Price

The price for a security at which the first trade took place on a given business day.

Option

A contract between two parties giving the taker the right, but not the obligation, to buy or sell a specified number of securities on or before a specified date (expiry or maturity date) for a specified price (exercise price).

Option Codes

Refer to definition under ASX Code.

Option Premium

This is the price of the option. That is, the dollar amount paid to the seller (writer) for an option. This amount is determined generally by supply and demand, duration of the contract and volatility of the underlying share price.

Options Clearing House Pty Ltd (OCH)

A subsidiary of ASX, this is the clearing house for exchange traded options. OCH guarantees performance of contracts and is responsible for daily margining, exercise notices and monitoring the financial status of brokers.

Ordinary Shares

Securities that represent ownership in a company. If the company has also issued preference shares, both have ownership rights.

Ordinary shareholders usually assume greater risk than preference shareholders, but ordinary shares often outperform bonds and preferred shares. Holders of ordinary shares also exercise greater control by electing the board of directors and voting on corporate policy.

In the event of liquidation, ordinary shareholders have rights to a company's assets only after preferred shareholders, secured creditors and other debt holders (including bond and debenture holders) have been paid in full. Ordinary shares are also known as Common Stocks.

Pari Passu Indicator

Used during new issues, reconstruction’s, capital/premium adjustments, and calls, to indicate whether deferred delivery securities rank equally with ordinary shares for the next dividend. Y = Equal ranking, N = Not ranked equally with ordinary shares

Paid, Paid Up Value

This figure represents the amount of application money and/or calls which have been paid on any security which is only partly paid. This figure excludes premiums. (Expressed as cents to two decimal places)

Par Value

The face value of a security. In relation to shares, the par value is set by the company at the time of issue and does not necessarily reflect the share's market or current value.

P/E

Price to Earnings ratio. The most recent share price as a percentage of the earnings per share.

Preference Shares

Securities that represent ownership in a company, such that a stated dividend must be paid before dividends to ordinary shareholders. Preferred shareholders usually don't have voting rights. In the event of liquidation, preferred shareholders also have a higher claim to earnings and assets.

Premium

a) The amount by which a security sells above its asset backing, the opposite of discount; b) The amount paid at the time of purchase, for example, of an option; c) a periodic payment made towards an insurance policy.

Premium Adjustment

A net adjustment to the premium payable for a contributing security. (Expressed as cents to two decimal places.) To obtain the total amount of application money due, the premium and capital are added together.

Last Price

The traded price for a security previous to the last price.

Price

The price traded for the security in the given transaction.

Price Index

An index measuring movements in the prices of shares, but not of their dividends; as opposed to an Accumulation Index, which measures movements in both price and dividend income.

Put Options

An option that gives the option holder the right, but not the obligation, to sell a specified number of securities on or before a specified date (expiry or maturity date) for a specified price (exercise price).

Put Warrant

A put warrant is a contract between two parties giving the holder the right, but not the obligation, to sell securities to the issuer of the warrant at a specified price (exercise price) on or before a specific date (expiry date). The issuer of the warrant must buy at the agreed price if the holder decides to exercise the warrant on or before the expiry date. Holders may actually need to buy several warrants to cover a single security.

Quoted Security Indicator

An indicator identifying the quote and trading status of a security. Values include:

·         0 = Quoted and Tradable

·         1 = Unquoted but Tradable

·         2 = Unquoted and Not Tradable - Issues, e.g. Non-Renounceables, or Options Entitlements

·         3* = Unquoted and Not Tradable - Percentage of Capital e.g. Employee Shares, Personal Investment, Restricted Securities

·         4* = Unquoted and Not Tradable - Internal Miscellaneous, e.g. suspended securities

·         5 = Quoted but Escrowed (not tradable) - Restricted Securities

·         6 = Reconstructed - temporarily quoted under new Deferred Settlement code

* These values are not currently disseminated.

Rally

A rally is a brisk rise following a decline in the general price level of the market or an individual security. Rallies show that demand is greater than supply.

Rate of Return

The income yield earned in relation to a capital amount invested.

Renunciations Close Date

The date until which Renunciations (the selling of Rights to an issue) will be accepted by the issuing body.

Reversal Figure

The specified unit amount that defines how far a price can fall.

Rho

The rate at which the price of a derivative changes with interest rates.

Rights Issue

The issuing of rights, to existing shareholders of a security, to buy a proportional number of additional securities at a given price (usually at a discount) within a fixed period (usually 30 -60 days). Rights are often transferable, allowing the holder to sell them on the open market.

Sales Sequenced Number

An internal tracking number used by the ASX (Australian Stock Exchange) for all trades. This number is of use only to the ASX and has no other function.

Scrip Dividend Amount

The cash value of the most recently announced dividend (or part thereof) declared and payable as share scrip. (Scrip is an abbreviation for subscription - a certificate denoting entitlement to a parcel of shares. Synonymous with Share Certificate. ) This value is expressed as cents to four decimal places.

SEATS

Abbreviation for Stock Exchange Automated Trading System, the screen trading system adopted by the Australian Stock Exchange. The screen trading system trades securities via a computer network rather than by open cry on the floor of the exchange.

Security, Securities

A "security" is a general name given to any investment (for example, certificates of interest, bills of exchange, bonds, debentures, notes, options, shares and stock are all called securities).

More particularly, a security is a document that:

·         proves ownership of assets and

·         is usually tradeable on financial markets.

Security Code

The identifying allocated to each security pertaining to an issuing body. This field may be prefixed with the Issuer Code to make up a unique ASX Code. In foreign markets, the security code is often referred to as the "Symbol" or "Security Symbol".

Instructions on how to find the code of the securities that interest you.

Security Type Number

This number defines the type of security in question. The issuing body defines this type.

Select, Selecting

With software programs, you can usually select items, objects and windows by clicking on them using your left mouse button.

Seller

This is the Seller Identification, a four-digit number used to identify the selling broker.

Seller Name

The name of the seller for the given trade.

Share

A share is a contract between the issuing company and the owner of the share, which gives the latter an interest in the management of the corporation, the right to participate in profits and, if the company is dissolved, a claim upon assets remaining when all debts have been paid. Shares are also known as stocks or equities. Shares are owned by shareholders, hence a shareholder owns part of a company.

If you own ordinary shares you are entitled to vote at the company's annual general meeting. You also share in the money obtained if the company is wound up (stops operating, pays its debts and sells its assets.)

Owning preference shares gives you priority over ordinary shareholders when the money is distributed, but you might not be allowed to vote.

If you own cumulative preference shares you must be paid a fixed annual dividend (money) and the rest is distributed among ordinary shareholders. This entitlement carries forward: if you don't get paid some years, you get the unpaid dividends the first year the company has money available and before any is distributed to ordinary shareholders.

Share Price Index, Price Index

An index measuring movements in the prices of shares, but not of their dividends; as opposed to an Accumulation Index, which measures movements in both price and dividend income.

Share Split

A Dividing of a company's shares into a greater number of units by reducing the face value (where applicable) of each share. In the case of a $10 share, a four for one split would mean that four new shares would be issued for each old share at an `after-split' price of $2.50.

Share Register

A register recording all of a company's shareholders and the number of shares they each hold.

Share Register Locations

An indicator as to where Share Registers are located. The indicator is express as a number or code that represents a particular location.

Short, Short Selling

A Short position is used to describe the selling of a security, where the investor's sales exceed holdings because they believe the price will fall. Short selling is the sale of a security in the expectation that its price will fall, so that it can be bought back later at a profit. Often the seller does not own the security. Short sellers assume the risk that they will be able to buy the stock at a more favourable price than the price at which they sold short.

Short Sell Status Indicator

Indicates whether a security may be short sold. Y = Security can be short sold, N = Security cannot be short sold

Strike Price

This is the stated price per share, which an option-holder may purchase (for a call) or sell (for a put) underlying securities upon exercise of the option contract. Also called the Exercise Price.

Suspension End Date

Date on which a trading suspension has been lifted. If this field is zero, and Suspension Start Date is filled, this indicates that the security is still suspended.

Suspension Start Date

Date on which a trading suspension was imposed on a security. If this field is zero, the security is not suspended. If this field and suspension end date are both filled, the security is no longer suspended.

SSN

Abbreviation for the Sales Sequenced Number.

Symbol

The identifying code used for securities. In Australia, also referred to as the "ASX Code", "Security Code" or "ASX Symbol".

Instructions on how to find the symbols of the securities that interest you.

Technical Indicators

Technical indicators are signals or statistics that can be useful in determining an appropriate trading strategy. The value of an indicator is usually derived from a mathematical calculation based on a security's price (open, high, low, close) or volume. Investors can use this value to anticipate future price movements. Indicators are plotted within security price charts.

Theta

The change in an option price with respect to the decrease in time to expiration (or maturity). In other words, the rate at which an option premium will decrease over time. Also called time decay.

Tick History

The course of trade, which is a listing of each trade in a security for a particular day.

Time Value

Expressed as dollars to four decimal places, the Time Value is the value given to the amount of time the option has left in which it may appreciate. As the expiry date nears, the time value approaches zero.

Time value = A - Intrinsic Value

Where A is the margin price or last sale price.

Total Class Issue

The total number of securities of this class quoted on ASX. In the case of warrants, this is the total number of warrants in this series issued or approved for issue.

Total Annual Dividend Rate Per Share

A rolling 12 months (latest half year plus prior half year) dividend rate per share as declared by the issuer and adjusted by dilution factors resulting from bonus/rights issues or capital reconstruction. Total Annual Dividend Rate per Share figure includes any special cash or scrip dividend declared. For quarterly dividends the rolling 12 month figure is calculated on a quarterly basis.(Expressed as cents to two decimal places).

Total Dividend Rate Per Share

A rolling 12 months (latest half year plus prior half year) dividend rate per share as declared by the issuer and adjusted by dilution factors resulting from bonus/rights issues or capital reconstruction. Total Annual Dividend Rate per Share figure includes any special cash or scrip dividend declared. For quarterly dividends the rolling 12 month figure is calculated on a quarterly basis. (Expressed as cents to two decimal places).

Total Issue

Total number of securities of this type that have been issued.

Total Listed

Total number of securities of this type that have been listed on the Australian Stock Exchange.

Turnover

The total value of trades for the relevant market, index or security type, so far on the given business day.

Underlying Security

The shares, stock or commodity upon which a synthetic security (derivatives, such as futures and options) is based. Also called Physical Security.

Vega

The amount by which the price of an option changes to a 1% change in volatility. As vega rises, the hedging requirements increase.

Volatility

The degree of price fluctuation. The higher the volatility of a security, the less certain an investor is of return, and therefore volatility is used as an indicator of risk.

Volume

The volume is the number of securities that were traded on a given business day or in a given business transaction.

Warrants

Warrants are like Exchange Traded Options with a few important differences. A warrant is a contract between two parties giving the holder the right, but not the obligation, to buy or sell securities at a specified price (exercise price) on or before a specific date (expiry date). The issuer of the warrant must sell or buy, respectively, at the agreed price if the holder decides to exercise the warrant on or before the expiry date. Holders may actually need to buy several warrants to cover a single security.

Warrants may only be issued by approved institutions ("offering companies") that meet specified eligibility criteria - usually banks and financial institutions. Generally, you can't short sell warrants (you can't sell warrants you don't already own). Warrants are usually considered long-term instruments, expiration dates are typically years in the future, whereas the lifetime of options are often in months.

Warrants Codes

Refer to definition under ASX Code.

Watch List

A table containing transaction data about securities.

Yield

The return/profit/income on a security (investment) expressed as a percentage.