Choose a letter above or browse financial terms for the currently selected letter below. Click on the term name to see any articles that are related to the term.

Day Order

An order to buy or sell securities that automatically expires if not executed on the day it is entered.


Any person or company in the business of buying and selling securities for his or her own account, through a broker or otherwise.


An unsecured debt secured by general credit (the borrower’s integrity), not by collateral. The debenture agreement is called an indenture.

Debit Balance

Debit balances are monies owed to a broker/dealer by a customer generally resulting from the customer’s purchase of securities.


Money borrowed.


Failure to make timely payments on a debt.


An excess of liabilities over assets, losses over profits, or expenditures over income.

Depository Trust Company (DTC)

The world’s largest central securities depository. The DTC settles trades in municipal, mortgage-backed, and corporate securities.


A decrease in the value of an asset.


When company shares increase in quantity, causing the value of each share to decrease.


Person elected by shareholders to serve on the board of directors.

Disability insurance

An insurance product that only pays benefits if the policyholder, as a result of illness or injury, can no longer work.


How much a security sells below its par value.

Discount rate

The interest rate that the Federal Reserve charges banks and broker/dealers to borrow money.

Discretionary account

Discretionary account


A risk-reducing investment strategy that combines different securities and assets (stocks, bonds, cash, etc.) unlikely to move, price-wise, in the same direction at the same time.


Distributions to stockholder of cash or stock declared by the company’s board of directors.


A strategy of buying securities at regular intervals with a fixed dollar amount per interval.

Dow Jones Industrial Average

The best-known U.S. index of stocks containing 30 companies that trade on the NYSE.

Down Tick

A transaction executed at a price lower than the preceding transaction in that security or a new quote registered at a lower price than the preceding quote in that security.


A negative change in buy/sell/hold ratings for a security.