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Traders Glossary

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Order Flow

Aggregated small orders to purchase or sell securities that brokers send to dealers often in return for cash payments.

Order Matching

The Market Maker practice of pairing buy and sell orders for like amounts of securities at identical prices. (See Market Maker, Small Order Execution System)

Order Ticket

A form completed by a registered representative of a brokerage firm upon receiving order instructions from a customer.

Overbought [oversold]

Judgmental adjective describing a market or stock implying That people have been wildly buying [selling] it and that there is very little chance of it moving upward [downward] in the near term. Usually it applies to movement momentum rather than what the security should cost.

Over Valued, Under Valued, Fairly Valued

Judgmental adjectives describing that a market or stock is over/under/fairly priced with respect to what people believe the security is really worth.

*The term Direct Access refers to the client’s ability to determine which Exchange, ECN or Market Maker receives their order. The term does not mean to imply that you can trade without a broker, as any transaction would require a relationship with a registered Broker-Dealer.

The risk of loss in electronic trading can be substantial, you should therefore consider whether such trading is suitable for you based on your individual circumstances and financial resources. Account access, trade execution and system response may be adversely affected by market conditions, quote delays, system performance and other factors. Extended hours trading entails several risks including lower liquidity, higher volatility, wider spreads, changing prices, unlinked markets, news and announcements. Not all securities, products or services are available in all states or countries outside the United States and nothing herein should be deemed as an offer or solicitation of these securities, products and services in any jurisdiction in which Online Brokerage Services is not properly licensed and registered.

Online Brokerage Services, Inc. reserves the right to refuse the transfer of funds from a brokerage account to another account, other than that which was used as the brokerage account's original source of funding. Online Brokerage Services, Inc. will not allow for third-party funding. Funds are subject to a minimum holding period of thirty (30) days upon initial funding of account.