O & O
Own and Offer
Object
An input/output defined in the activity screen within Process Charter. Objects that are affected by work that is being performed. This is in contrast to a resource.
Odd Coupons
Sometimes, the first or last coupon period is either linger or shorter than a normal coupon period and therefore the coupon payment is more or less than a normal coupon payment. Calculating the odd coupon payment is roughly the same as calculating accrued interest for the number of days in the odd coupon period.
Odd-Lot
Refers to a trading unit of a bond that is some fraction of a round-lot. A premium is usually charged for odd-lot transactions.
Off to Off
Refers to a trade made from one retail account to another (off-the-street to off-the-street).
Offer
The price at which someone will sell a security.
Offer Wanted
The security referred to is desired by a buyer and prospective sellers are requested to submit offers for it. The inference is that the security will be bought from the lowest offerer.
Old Money Preferred
A preferred stock of a public utility that was issued prior to October 1, 1942, or that refunded or replaced a bond, debenture or other preferred stock issued prior to October 1, 1942. The tax deduction for corporations investing in stock of another corporation is 60.2% for income from old money preferreds.
OMC
Open Market Committee
One-sided Market
A market consisting of only a firm bid or a firm offering.
Open Order
An order to buy or sell entered at a certain price and designated good until canceled.
Open-end
To liquidate all or part of a portfolio and to hold cash or cash equivalents.
Open-end Fund
A mutual fund that has no fixed number of shares outstanding. The share represent an interest in the fund's portfolio. New shares are offered to the public and any investor can sell shares back to the fund at market value. Price is determined by the per share net asset value of the portfolio on a daily basis.
Option
1. An agreement, or privilege, which conveys the right to buy or sell a specific security at a stipulated price and within a stated period of time. If not exercised during that time, the money paid for the option is forfeited.
2. Right to buy or sell property that is granted in exchange for an agreed-upon sum.
Option to Double
A feature of an indenture that allows a sinking fund to purchase twice the normal principal amount of bonds for the sinking fund, at the sinking fund call price. Such additional purchases are not considered buying ahead.
Original Face
Value of asset pool at time of origination.
Original Issue Discount
The discount from par at which a new issue comes to the market. The IRS treats the accretion of this discount over the life of the security as being current income to the holder.
Original Principal
The principal amount of a pass-through pool originally issued (also called original face).
Originator
A person who solicits builders, brokers, and others to obtain applications for mortgage loans. Origination is the process by which the mortgage banker brings into being a mortgage secured by real property.
OTC
Over the Counter
OTL
Out to Lunch
Out Firm
Advises that a trader has already given someone else an option to buy or sell the security at a given price, for a specified period of time.
Out Trade
A futures trade by a floor trader which the clearing house cannot march with the other party to the trade, as recorded at the time of the trade.
Over the Counter Deliveries
Securities that are delivered by messenger to members and agents against payment. Delivery hours are between 9:00 and 11:30 a.m.
Overbought
A market that is susceptible to a downward correction in price levels. Implies that prices have risen more than fundamentals would dictate.
Oversold
A market that is susceptible to an upward correction in price levels. Implies that prices have fallen more than fundamentals would dictate.
Overtrading
The practice of allowing illegal concessions by paying substantially more than the market value for one security in order to affect the sale of another.
OW
Offer Wanted