In order to achieve success in the stock market you must be able to speak the language of the stock market. Please use our supplied glossary of terms to become better acquainted with these terms so that you may gain a better understanding of the market world


Thin Market
A market that occurs when there are comparatively few bids to buy or offers to sell, or both. The phrase may apply to a single security or to the entire stock market. In a thin market, price fluctuations between transactions are usually larger than when the market is liquid. A thin market in a particular stock may reflect lack of interest in that issue, or a limited supply of the stock.

Slang used for minimum spread. Depending on the stock price it could be a half-cent, one cent or five cents.

Ticker Tape
Each time a stock is bought and sold, it is displayed on an electronic ticker tape. It is a record of current trading activity on an exchange.

Ticket Fee
The administrative fee charged for each trade.

Tier Structure
The TSX Venture Exchange market has two tiers where securities are listed and traded. Tier 1 is for advanced companies with a certain level of net tangible assets and earnings. Tier 2 is for more junior venture companies.

Time refers to the time period you would like to see charted from the drop-down menu box labelled “Time”. These options give you a choice of intraday pricing data (“Daily”, “1-Minute”, “5-Minute”, “15-Minute” and “Hourly”) options. The additional options refer to end-of-day pricing data. This term refers to a TSX Group Historical Performance charting feature.

Time Value
The difference between an option’s premium and its intrinsic value.

Timely Disclosure Policy
This policy requires all listed companies to publicly disclose material information in a timely manner.

Toronto Level 1 (TL1) is a real-time service for listed senior equities that provides trades, quotes, corporate actions and index information from TSX.

Toronto Level 2 (TL2) is a real-time service for senior equities that shows all of the committed orders and trades for each TSX listed security in real time.

Toronto Stock Exchange
Canada’s national stock exchange, which serves the senior equity market.

Total Number of Shares
The total number of issued and outstanding shares for the security.

Total Return Index Value (TRIV)
Similar to the stock price index value (SPIV), except that the TRIV is based on the aggregate, float quoted market value of the index constituents (SPIV) plus their paid dividends/distributions. TRIV is calculated only at the end of the trading session for all S&P/TSX indices.

Trading Halt
A trading halt is imposed by the exchange, usually due to the dissemination of news that might impact a stock’s price.

Trading Issue
The status of a listed security of an issuer whose trading privileges are active on the Exchange.

Trading Issuer
An issuer that has at least one class of securities whose trading privileges are active on Toronto Stock Exchange or TSX Venture Exchange.

Trading Number
The unique, 3-digit number assigned to each Participating Organization and Member to identify it for market transparency.

Trading Session
The period during which the Exchange is open for trading.

Trading Symbol
See Stock Symbol.

Trailing Twelve Months Earnings Per Share (TTM EPS)
Trailing, twelve-months earnings per share (TTM EPS), reported by TSX for listed issuers, is an annualized EPS calculation, based on EPS as presented by the issuer, from their latest annual financial statements and the latest subsequent interim financial statements, if any. It includes special items, such as extraordinary items or discontinued operations. It indicates the issuer’s annualized earnings for the latest financial reporting period. It is also used to calculate the issuer’s price/earnings (P/E) ratio that is reported on

Transaction Date
The date when the purchase or sale of a security takes place.

As reported in exchange trading statistics, represents the total number of trades for a specified period.

Transfer Agent
A trust company appointed by a listed company to keep a record of the names, addresses and number of shares held by its shareholders. Frequently, the transfer agent also distributes dividend cheques to the company’s shareholders.

Transferable Security
A security that can be transferred from one party holder to another without restrictions, provided that all proper documentation is included.

TSX Industrial Category
Includes all issuers that are not classified as mining or oil and gas.

TSX Industrial, Mines and Oil & Gas Categories (IMO)
The broad classification of issuers into an industrial, mining, or oil and gas category. The classification is done at the review of the original listing application or at a later review of the listed issuer. The classification determines which listing standard is to be applied to the issuer.

TSX Marker for U.S. or Non-U.S. Foreign Incorporated Issuer
A marker used by TSX to classify trading (including interlisted shares) and market capitalization by domestic, U.S., and non-U.S. foreign issuers. The data source is the original listing bulletin, which includes a notation on the laws or jurisdiction the issuer was incorporated under. Non-U.S., foreign issuer data is not broken down by country of incorporation.

TSX Mines Category
Includes: * Mining issuers that have proven or probable reserves and are either in production or have made a production decision. * Mineral exploration and development issuers that have a planned work program of exploration or development.

TSX Oil & Gas Category
Includes oil and gas companies that have proven and developed reserves and ongoing operations.

TSX Venture Exchange
Canada’s national stock exchange, which serves the public, venture equity market.

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