Chapter 5. Page 1. How Securities Are Traded. Learning Objectives. INVESTMENTS: Analysis and Management Second Canadian Edition
|
|
- Lesley Jessie Blankenship
- 5 years ago
- Views:
Transcription
1 INVESTMENTS: Analysis and Management Second Canadian Edition W. Sean Cleary Charles P. Jones Chapter 5 How Securities Are Traded Learning Objectives Explain the role of brokerage firms and stockbrokers. Describe how brokerage firms operate. Outline how orders to buy and sell securities are executed. Discuss the regulation of the Canadian securities industry. Explain the importance of margin trading and short selling to investors. Page 1
2 Brokerage Operations Brokerage firms earn commissions on executed trades, sales loads on mutual funds, profits from securities sold from inventory, underwriting fees and administrative account fees Full-service brokers offer order execution, information on markets and firms, and investment advice Discount brokers offer order execution Brokerage Account Types Cash account: Investor pays 100% of purchase price for securities Margin account: Investor borrows part of the purchase price from the broker Wrap account: Brokers match investors with outside money managers; all costs are wrapped in one fee Fees and Costs Brokerage commissions differ by security, broker, and investor Institutional investors have greatest negotiating power On-line trading offers significantly lower commission rates to individual investors In 1992 E*TRADE became the first brokerage service to offer on-line trading Dividend reinvestment plans (DRIPs) permit reinvestment of dividends in additional stock Page 2
3 Orders on Organized Exchanges The TSX introduced the world s first computerassisted trading system (CATS) in 1977 The NYSE continues to make use of the specialist system Specialists maintain the limit order book Specialists keep a fair and orderly market by providing liquidity Orders in OTC Markets Dealers are ready to either buy or sell Bid price is the highest offer price to buy Ask price is the lowest price willing to sell Ask price - Bid price >0 (dealer spread) Dealer makes a market in the security More than one dealer for each security in overthe-counter markets Types of Orders Market order: Authorizes immediate transaction at best available price Limit order: Specifies a particular market price before a transaction is authorized Stop order: Specifies a particular market price at which a market order is authorized Page 3
4 Clearing Procedures Settlement dates for stocks are three business days after the trade date Legal ownership transferred and financial arrangements settled with brokerage firm Transfer of securities and funds between exchange members facilitated by a clearinghouse: The Canadian Depository for Securities (CDS) Canadian Regulatory Environment Self-Regulatory Organizations (SROs) regulate their own activities Canadian Investor Protection Fund (CIPF) was established to protect investors Investment Dealers Association of Canada (IDA) is the national trade association for the investment industry Canadian Securities Institute (CSI) is the national education body of the Canadian securities industry Margin Accounts Exchanges set minimum required deposits of cash or securities Investor pays part of investment cost, borrows remainder from broker Margin is the percent of total value that cannot be borrowed from broker Margin call occurs when the actual margin declines below the margin requirement Page 4
5 Short Sales Investor borrows stock from a third party Borrowed security sold in open market, to be repurchased later at an expected price lower than sale price Investor liable for declared dividends Short sale proceeds held by broker Investor responsible for borrowed shares Copyright Copyright 2005 John Wiley & Sons Canada, Ltd. All rights reserved. Reproduction or translation of this work beyond that permitted by Access Copyright (The Canadian Copyright Licensing Agency) is unlawful. Requests for further information should be addressed to the Permissions Department, John Wiley & Sons Canada, Ltd. The purchaser may make back-up copies for his or her own use only and not for distribution or resale. The author and the publisher assume no responsibility for errors, omissions, or damages caused by the use of these programs or from the use of the information contained herein. Page 5
FIN221: Lecture 2 Notes. Securities Markets. Markets in New Securities. The Role of Financial Markets. Investment Banking. Investment Banking
FIN221: Lecture 2 Notes Securities Markets Chapters 4 and 5 Chapter 4 Charles P. Jones, Investments: Analysis and Management, Eighth Edition, John Wiley & Sons Prepared by G.D. Koppenhaver, Iowa State
More informationChapter 8. Portfolio Selection. Learning Objectives. INVESTMENTS: Analysis and Management Second Canadian Edition
INVESTMENTS: Analysis and Management Second Canadian Edition W. Sean Cleary Charles P. Jones Chapter 8 Portfolio Selection Learning Objectives State three steps involved in building a portfolio. Apply
More informationChapter 17. Page 1. Company Analysis. Learning Objectives. INVESTMENTS: Analysis and Management Second Canadian Edition
INVESTMENTS: Analysis and Management Second Canadian Edition W. Sean Cleary Charles P. Jones Chapter 17 Company Analysis Learning Objectives Define fundamental analysis at the company level. Explain the
More informationAccounting Principles
Accounting Principles Second Canadian Edition Weygandt Kieso Kimmel Trenholm Prepared by: Carole Bowman, Sheridan College CHAPTER 4 COMPLETION OF THE ACCOUNTING CYCLE WORK SHEET A work sheet is a multiple-column
More informationFinancial Institutions, Markets, and Money, 9 th Edition
Power Point Slides for: Financial Institutions, Markets, and Money, 9 th Edition Authors: Kidwell, Blackwell, Whidbee & Peterson Prepared by: Babu G. Baradwaj, Towson University And Lanny R. Martindale,
More informationInvestments. 1. Discuss why corporations invest in debt and share securities.
12-1 Chapter 12 Investments Learning Objectives After studying this chapter, you should be able to: 1. Discuss why corporations invest in debt and share securities. 2. Explain the accounting for debt investments.
More informationInvestment Analysis (FIN 383) Fall Homework 2
Investment Analysis (FIN 383) Fall 2009 Homework 2 Instructions: please read carefully You should show your work how to get the answer for each calculation question to get full credit The due date is Thu,
More informationTHE ACCOUNTING INFORMATION SYSTEM
Study Objectives THE ACCOUNTING INFORMATION SYSTEM 1. Analyze the effect of business transactions on the basic accounting equation. 2. Explain what an account is and how it helps in the recording process.
More informationInvestments 10th Edition Bodie Test Bank Full Download:
Investments 10th Edition Bodie Test Bank Full Download: http://testbanklive.com/download/investments-10th-edition-bodie-test-bank/ Chapter 02 Asset Classes and Financial Instruments Multiple Choice Questions
More informationAccounting Principles
Accounting Principles Second Canadian Edition Weygandt Kieso Kimmel Trenholm Prepared by: Carole Bowman, Sheridan College CHAPTER 2 THE RECORDING PROCESS THE ACCOUNT An account is an individual accounting
More informationI. The Primary Market
University of California, Merced ECO 163-Economics of Investments Chapter 3 Lecture otes Professor Jason Lee I. The Primary Market A. Introduction Definition: The primary market is the market where new
More informationMarket Microstructure
Market Microstructure (Text reference: Chapter 3) Topics Issuance of securities Types of markets Trading on exchanges Margin trading and short selling Trading costs Some regulations Nasdaq and the odd-eighths
More informationInvestments: An Introduction
Investments: An Introduction 10e Chapter 2: Securities Markets Herbert B. Mayo Market Makers - Security Dealers - Specialists Offer to buy and sell for their own accounts Spread - difference between the
More informationNEW MILLENNIUM TECHNOLOGY TRUST. Distribution Reinvestment Plan
NEW MILLENNIUM TECHNOLOGY TRUST Distribution Reinvestment Plan Introduction New Millennium Technology Trust (the Trust ) wishes to establish this automatic distribution reinvestment plan (the Plan ) to
More informationMODERN PORTFOLIO THEORY AND INVESTMENT ANALYSIS 9 TH EDITION
Test Bank to accompany Modern Portfolio Theory and Investment Analysis, 9 th Edition MODERN PORTFOLIO THEORY AND INVESTMENT ANALYSIS 9 TH EDITION ELTON, GRUBER, BROWN, & GOETZMANN The following exam questions
More informationAn Overview COPYRIGHTED MATERIAL CHAPTER 1
CHAPTER 1 An Overview The Stock Markets The Exchange System NYSE Time Line Listed Stocks The Specialist System Who s Who on the Exchange Floor The SuperDOT System COPYRIGHTED MATERIAL 6 SAMMY CHUA S DAY
More informationChapter 14. Statement of Cash Flows
1 Chapter 14 Statement of Cash Flows 2 Figure 14-1 3 Definition of Cash Cash consists of coin, currency, and available funds on deposit at the bank. Negotiable instruments such as money orders, certified
More informationChapter 8: Investments in Equity Securities
1 Chapter 8: Investments in Equity Securities 2 Equity Securities Classified as Current Two criteria must be met for an investment in a security to be considered current and thus warrant inclusion as a
More informationM.S. HOWELLS & CO. NOTES TO FINANCIAL STATEMENTS
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization and Business M.S. Howells & Co. (the Company ) was incorporated in Delaware on April 11, 2000, and is a securities broker-dealer serving primarily
More informationTest Bank for Investments 8th Canadian Edition by Bodie Kane Marcus Perrakis Ryan
Test Bank for Investments 8th Canadian Edition by Bodie Kane Marcus Perrakis Ryan Link download full: http://testbankair.com/download/test-bank-for-investments-8thcanadian-edition-by-bodie-kane-marcus-perrakis-ryan/
More information1. Which of the following is not a characteristic of a money market instrument?
Test Bank for Investments 8th Canadian Edition by Bodie Kane Marcus Perrakis Ryan Link download full: https://testbankservice.com/download/test-bank-for-investments-8thcanadian-edition-by-bodie-kane-marcus-perrakis-ryan/
More informationTD Exchange-Traded Funds. Distribution Reinvestment Plan
TD Exchange-Traded Funds Distribution Reinvestment Plan 1. Introduction Each TD Exchange-Traded Fund ("TD ETF", or collectively, "TD ETFs") as listed in Schedule A has established this distribution reinvestment
More informationChapter 3: The Measurement Fundamentals of Financial Accounting
1 Chapter 3: The Measurement Fundamentals of Financial Accounting 2 Basic Assumptions Basic assumptions are foundations of financial accounting measurements The basic assumptions are Economic entity Fiscal
More informationChapter 2 Securities Markets. T 1. A major function of organized securities markets is to facilitate the transfers of securities among investors.
Chapter 2 Securities Markets TRUE/FALSE T 1. A major function of organized securities markets is to facilitate the transfers of securities among investors. T 2. A round lot is the general unit for trading
More informationPROSPECTUS Continuous Offering April 18, 2018
No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise. This prospectus constitutes a public offering of these securities only in those
More informationNORTH AMERICAN HIGH YIELD BOND FUND (PUTNAM)
Interim Unaudited Financial Statements For the Six-Month Period Ended September 30, 2016 These Interim Unaudited Financial Statements do not contain the Interim Management Report of Fund Performance (
More informationChapter 2 Securities Markets. T 1. A major function of organized securities markets is to facilitate the transfers of securities among investors.
Chapter 2 Securities Markets TRUE/FALSE T 1. A major function of organized securities markets is to facilitate the transfers of securities among investors. T 2. A round lot is the general unit for trading
More informationModul ke: Pengantar Akuntansi. Accounting in Action. 1Fakultas Ekonomi dan Bisnis. Yullia Yustikasari, SE, M.Sc. Program Studi Akuntansi
Modul ke: 1Fakultas Ekonomi dan Bisnis Pengantar Akuntansi Accounting in Action Yullia Yustikasari, SE, M.Sc. Program Studi Akuntansi CHAPTER1 Accounting in Action PreviewofCHAPTER1 What is Accounting?
More informationSHAREHOLDER DIVIDEND REINVESTMENT PLAN (DRIP)
SHAREHOLDER DIVIDEND REINVESTMENT PLAN (DRIP) September 22, 2014, as amended on August 9, 2018 SIENNA SENIOR LIVING INC. SHAREHOLDER DIVIDEND REINVESTMENT PLAN 1. INTRODUCTION This shareholder dividend
More informationBC Instrument Issuers Quoted in the U.S. Over-the-Counter Markets. Contents
BC Instrument 51-509 Issuers Quoted in the U.S. Over-the-Counter Markets Contents PART 1 DEFINITIONS AND REPORTING ISSUER DESIGNATION 1 Definitions 2 National Instrument definitions apply 3 Reporting issuer
More informationCHAPTER4. The Recording Process. PreviewofCHAPTER4. Using a Worksheet. Steps in Preparing a Worksheet
CHAPTER4 The Recording Process 4-1 4-2 PreviewofCHAPTER4 Using a Worksheet Steps in Preparing a Worksheet Multiple-column form used in preparing financial statements. Not a permanent accounting record.
More informationMyE214: Global Securities Markets Dr. Sunil Parameswaran January Target Audience: Objectives:
MyE214: Global Securities Markets Dr. Sunil Parameswaran January 4-15-2016 Target Audience: This course is focused at those who are seeking to acquire an overview of Finance, and more specifically a foundation
More informationAccounting Principles
Accounting Principles Second Canadian Edition Weygandt Kieso Kimmel Trenholm Prepared by: Carole Bowman, Sheridan College CHAPTER 9 ACCOUNTING FOR RECEIVABLES Hey Sabres Accountants of Tomorrow, look for
More informationZARGON OIL & GAS LTD. DIVIDEND REINVESTMENT PLAN
ZARGON OIL & GAS LTD. DIVIDEND REINVESTMENT PLAN PURPOSE The Dividend Reinvestment Plan (the "Plan") of Zargon Oil & Gas Ltd. (the "Corporation") provides eligible holders ("Shareholders") of common shares
More informationMORGAN STANLEY & CO. LLC (SEC I.D. No ) CONSOLIDATED STATEMENT OF FINANCIAL CONDITION AS OF DECEMBER 31, 2011 AND INDEPENDENT AUDITORS REPORT
MORGAN STANLEY & CO. LLC (SEC I.D. No. 8-15869) CONSOLIDATED STATEMENT OF FINANCIAL CONDITION AS OF DECEMBER 31, 2011 AND INDEPENDENT AUDITORS REPORT ******** INDEPENDENT AUDITORS REPORT To the Board of
More informationBBM2153 Financial Markets and Institutions Prepared by Dr Khairul Anuar
BBM2153 Financial Markets and Institutions Prepared by Dr Khairul Anuar L7: The Stock Market www. notes638.wordpress.com 7-1 Chapter Preview In August of 2004, Google went public, auctioning its shares
More information5. The number of options acquired when one contract is purchased on an exchange is a. 1 b. 5 c. 100 d. 500 e. 8,000
CHAPTER 2: Derivatives Markets. 1. Options are traded on which of the following exchanges? a. NYSE Amex b. NYSE Euronext (Arca) c. Chicago Board Options Exchange d. International Securities Exchange e.
More informationTest Bank for Investments Global Edition 10th Edition by Zvi Bodie, Alex Kane and Alan J. Marcus
Test Bank for Investments Global Edition 10th Edition by Zvi Bodie, Alex Kane and Alan J. Marcus Link download full: https://digitalcontentmarket.org/download/test-bankfor-investments-global-edition-10th-edition-by-bodie
More informationStock Indices. Types of Stock. Stocks. Stock Indices. Ups and Downs. Four Popular Indicators
Stocks Stock: An investment that represents ownership in a company or corporation. Over the long-run, these investments tend to pay dividends to the share holders, and, given that the value of the stock
More informationChapter 5: Using Financial Statement Information
1 Chapter 5: Using Financial Statement Information 2 Control and Prediction Financial accounting numbers are useful in two fundamental ways: They help investors and creditors influence and monitor the
More informationBudgetary Planning. Managerial Accounting, Fourth Edition. Chapter 9-2
9-1 CHAPTER 9 Budgetary Planning Managerial Accounting, Fourth Edition 9-2 Study Objectives 1. Indicate the benefits of budgeting. 2. State the essentials of effective budgeting. 3. Identify the budgets
More informationSPECIFIC AMENDMENTS (1) Front Cover
.AMENDMENT NO. 1 dated February 12, 2019 to the ANNUAL INFORMATION FORM dated December 31, 2018, in respect of ARROW ADVANTAGE ALTERNATIVE CLASS (Series A, F and ETF units) I. SUMMARY OF AMENDMENTS This
More informationDIVERSIFIED FIXED INCOME FOLIO FUND
Interim Unaudited Financial Statements For the Six-Month Period Ended September 30, 2018 These Interim Unaudited Financial Statements do not contain the Interim Management Report of Fund Performance (
More informationChapter. Chapter. Accounting and the Time Value of Money. Time Value of Money. Basic Time Value Concepts. Basic Time Value Concepts
Accounting and the Time Value Money 6 6-1 Prepared by Coby Harmon, University California, Santa Barbara Basic Time Value Concepts Time Value Money In accounting (and finance), the term indicates that a
More informationBMO ETFs. Distribution Reinvestment Plan
BMO ETFs Distribution Reinvestment Plan 1. Introduction This Distribution Reinvestment Plan has been created by each of the BMO ETFs to provide Unitholders with a method of reinvesting cash distributions
More informationMONTHLY INCOME FUND (LONDON CAPITAL)
MANAGEMENT REPORT Management s Responsibility for Financial Reporting The accompanying financial statements have been prepared by Mackenzie Financial Corporation, as Manager of Monthly Income Fund (London
More informationFirst Southwest Company, LLC Index June 30, 2015 (Unaudited)
S t a t e m e n t o f Financial Condition Statement of Financial Condition (Unauditied) FirstSouthwest Index Page(s) Statement of Financial Condition... 1 Notes to Statement of Financial Condition... 2
More informationPREVIEW OF CHAPTER 17-2
17-1 PREVIEW OF CHAPTER 17 17-2 Intermediate Accounting IFRS 2nd Edition Kieso, Weygandt, and Warfield 17 Investments LEARNING OBJECTIVES After studying this chapter, you should be able to: 1. Describe
More informationDIVIDEND REINVESTMENT PLAN
DIVIDEND REINVESTMENT PLAN Table of Contents Overview... 2 Eligibility... 2 Enrollment... 3 Price of Shares... 4 Dividends and Reinvestment Date... 4 Administration... 4 Costs... 4 Account Statements...
More informationThe Recording Process
2-1 Chapter 2 The Recording Process Learning Objectives After studying this chapter, you should be able to: [1] Explain what an account is and how it helps in the recording process. [2] Define debits and
More informationStatement of Cash Flows
13-1 13 Statement of Cash Flows Learning Objectives 1 2 Discuss the usefulness and format of the statement of cash flows. Prepare a statement of cash flows using the indirect method. 3 Analyze the statement
More informationFrontiers U.S. Equity Currency Neutral Pool. Interim Financial Reports (unaudited) for the period ended February 29, 2016
Frontiers US Equity Currency Neutral Pool Interim Financial Reports (unaudited) for the period ended February 29, 2016 Statements of Financial Position (unaudited) (in 000s, ecept per unit amounts) As
More informationSecurities Lending. Collateral Type* ($000s) Organization of the Fund (note 1) x x
Annual Financial Statements for the financial year ended December 31, 2017 Statements of Financial Position (in 000s, ecept per unit amounts) As at December 31, 2017 and 2016 (note 1) Assets December 31,
More informationC H A P T E R 16 DILUTIVE SECURITIES AND EARNINGS PER SHARE
16-1 C H A P T E R 16 DILUTIVE SECURITIES AND EARNINGS PER SHARE Intermediate Accounting 13th Edition Kieso, Weygandt, and Warfield 16-2 Dilutive Securities and Earnings Per Share Dilutive Securities and
More informationBBAP4103 Investment Analysis. Topic 2 Transactions in the Share Market
BBAP4103 Investment Analysis Topic 2 Transactions in the Share Market January 2018 Content 2.1 Transaction Procedures in Bursa 2.2 Types of types of orders 2.3 Margin trading 2.4 Other trading transactions
More informationPREVIEW OF CHAPTER 20-2
20-1 PREVIEW OF CHAPTER 20 20-2 Intermediate Accounting IFRS 2nd Edition Kieso, Weygandt, and Warfield 20 Accounting for Pensions and Postretirement Benefits LEARNING OBJECTIVES After studying this chapter,
More informationChapter 10. Introduction to Liabilities: Economic Consequences, Current Liabilities and Contingencies
1 Chapter 10 Introduction to Liabilities: Economic Consequences, Current Liabilities and Contingencies 2 Liabilities What is a liability? Probable future sacrifice of economic benefits arising from present
More informationPROGRESS ENERGY RESOURCES CORP. DIVIDEND REINVESTMENT PLAN
PROGRESS ENERGY RESOURCES CORP. DIVIDEND REINVESTMENT PLAN PURPOSE The Dividend Reinvestment Plan (the "Plan") provides eligible holders ("Shareholders") of common shares ("Shares") of Progress Energy
More informationMackenzie Growth ETF Portfolio
management report Management s Responsibility for Financial Reporting The accompanying financial statements have been prepared by Mackenzie Financial Corporation, as Manager of Mackenzie Growth ETF Portfolio
More informationMACKENZIE PRIVATE CANADIAN MONEY MARKET POOL
Interim Unaudited Financial Statements For the Six-Month Period Ended September 30, 2017 These Interim Unaudited Financial Statements do not contain the Interim Management Report of Fund Performance (
More informationChapter 16: Dilutive Securities and Earnings per Share
Intermediate Accounting, 11th ed. Kieso, Weygandt, and Warfield Chapter 16: Dilutive Securities and Earnings per Share Prepared by Jep Robertson and Renae Clark New Mexico State University Chapter 16:
More informationChapter 1. What is Finance? Four Basic Areas. Corporate Finance. Investments. Financial Institutions. International
Chapter 1 What is Finance? Four Basic Areas Corporate Finance Investments Financial Institutions International What are the duties of the financial manager? What long-term investments should the firm make?
More informationBROOKFIELD ASSET MANAGEMENT INC. DIVIDEND REINVESTMENT PLAN
BROOKFIELD ASSET MANAGEMENT INC. DIVIDEND REINVESTMENT PLAN - 1 - The following describes the Dividend Reinvestment Plan of Brookfield Asset Management Inc. which became effective on August 11, 1997, as
More informationFinancial Markets I The Stock, Bond, and Money Markets Every economy must solve the basic problems of production and distribution of goods and
Financial Markets I The Stock, Bond, and Money Markets Every economy must solve the basic problems of production and distribution of goods and services. Financial markets perform an important function
More informationAdjusting the Accounts
3-1 Chapter 3 Adjusting the Accounts Learning Objectives After studying this chapter, you should be able to: 1. Explain the time period assumption. 2. Explain the accrual basis of accounting. 3. Explain
More informationChapter 1. An Introduction to Investments: Summary Notes
Chapter 1. An Introduction to Investments: Summary Notes (Reading Chapters 1 and 2) This chapter introduces important financial concepts that apply to investments and investment decision making. These
More informationJ.P. Morgan Securities LLC CFTC Supplemental Disclosures
CFTC Supplemental Disclosures August 31, 2018 Assets and Capital Allocation as of August 31, 2018 Asset Allocation Capital Employed Financing (Resales, Borrows) 53% 5% Inventory by Business Line Public
More informationVERMILION ENERGY INC. Premium Dividend and Dividend Reinvestment Plan
VERMILION ENERGY INC. Premium Dividend and Dividend Reinvestment Plan Certain capitalized terms in this Premium Dividend and Dividend Reinvestment Plan have the meaning assigned to them under "Definitions"
More informationThe Recording Process
Prepared by Coby Harmon University of California, Santa Barbara Westmont College 2-1 2 The Recording Process Learning Objectives After studying this chapter, you should be able to: [1] Explain what an
More informationFinancial Statement Analysis
14-1 Chapter 14 Financial Statement Analysis 14-2 Learning Objectives After studying this chapter, you should be able to: 1. Discuss the need for comparative analysis. 2. Identify the tools of financial
More informationPHILLIPS, HAGER & NORTH INVESTMENT FUNDS
PHILLIPS, HAGER & NORTH INVESTMENT FUNDS ANNUAL INFORMATION FORM October 4, 2018 Managed by Phillips, Hager & North Investment Management * Offering Series D, Series F and Series O units of the: Phillips,
More informationChapter 02: Asset Classes and Financial Instruments
Test Bank for Investments and Portfolio Management 9th Edition by Bodie, Kane, Marcus Link download full Test Bank for Investments and Portfolio Management 9th Edition by Bodie, Kane, Marcus: https://digitalcontentmarket.org/download/test-bank-for-investments-and-portfolio-management-
More informationPEMBINA PIPELINE CORPORATION. Premium Dividend and Dividend Reinvestment Plan
PEMBINA PIPELINE CORPORATION Premium Dividend and Dividend Reinvestment Plan Certain capitalized terms in this Premium Dividend and Dividend Reinvestment Plan have the meaning assigned to them under "Definitions"
More informationDiviDenD Reinvestment Plan for shareholders
Dividend Reinvestment Plan for shareholders Innergex Renewable Energy Inc. FOR MORE information, visit www.innergex.com Head Office (Longueuil): 450 928-2550 Vancouver Office: 604 633-9990 info@innergex.com
More informationPLEASE READ THIS MATERIAL CAREFULLY AS YOU ARE REQUIRED TO MAKE A DECISION PRIOR TO 5:00 P.M. (SASKATOON TIME) ON DECEMBER 7, 2018
PLEASE READ THIS MATERIAL CAREFULLY AS YOU ARE REQUIRED TO MAKE A DECISION PRIOR TO 5:00 P.M. (SASKATOON TIME) ON DECEMBER 7, 2018 This rights offering circular (this Circular ) is prepared by management.
More informationHORIZON ETFS Distribution Reinvestment Plan
HORIZON ETFS Distribution Reinvestment Plan 1. Introduction Horizons ETFs Management (Canada) Inc. (the Manager ) is the trustee and/or manager of the ETFs, an innovative financial services company specializing
More informationOPTIONS TRADING SIMULATOR QUICK GUIDE
OPTIONS TRADING SIMULATOR QUICK GUIDE Orders Trading Market order A market order will be executed at the current marketable price. Limit order Order to buy or sell at a specific price or better. Option
More informationChapter 8. Money and Capital Markets. Learning Objectives. Introduction
Chapter 8 Money and Capital Markets Learning Objectives Visualize the structure of the government bond market Explain the interaction of Eurodollars, CDs, and Repurchase agreements and their connection
More informationDistribution Reinvestment Plan
Distribution Reinvestment Plan PURPOSE The Distribution Reinvestment Plan (the Plan ) provides eligible holders ( Holders ) of trust units ( Trust Units ) of Choice Properties Real Estate Investment Trust
More informationAccounting consists of three basic activities it
1-1 LEARNING OBJECTIVE 1 Identify the activities and users associated with accounting. Accounting consists of three basic activities it identifies, records, and communicates the economic events of an organization
More informationChapter 10. Introduction to Liabilities: Economic Consequences, Current Liabilities and Contingencies
1 Chapter 10 Introduction to Liabilities: Economic Consequences, Current Liabilities and Contingencies 2 Liabilities What is a liability? FASB - Probable future sacrifice of economic benefits arising from
More informationPROSPECTUS. Initial Public Offering and Continuous Offering January 27, 2015
No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise. PROSPECTUS Initial Public Offering and Continuous Offering January 27, 2015 This
More informationChapter 11. Notes, Bonds, and Leases
1 Chapter 11 Long- Term Liabilities Notes, Bonds, and Leases 2 Long- Term Liabilities Many companies finance their operations and growth opportunities through the use of long term debt instruments: Notes
More informationAccounting in Action. Chapter 1. Learning Objectives. After studying this chapter, you should be able to:
1-1 Chapter 1 Accounting in Action Learning Objectives After studying this chapter, you should be able to: 1. Explain what accounting is. 2. Identify the users and uses of accounting. 3. Understand why
More informationPEMBINA PIPELINE CORPORATION. Premium Dividend and Dividend Reinvestment Plan
PEMBINA PIPELINE CORPORATION Premium Dividend and Dividend Reinvestment Plan Certain capitalized terms in this Premium Dividend and Dividend Reinvestment Plan have the meaning assigned to them under "Definitions"
More informationstrong reliable trustworthy forward-thinking
2010 Annual Report strong reliable trustworthy forward-thinking Auditors Report To the shareholder of Manufacturers P&C Limited We have audited the accompanying financial statements of Manufacturers P&C
More informationPREVIEW OF CHAPTER 5-2
5-1 PREVIEW OF CHAPTER 5 5-2 Intermediate Accounting IFRS 2nd Edition Kieso, Weygandt, and Warfield 5 and Statement of Cash Flows Statement of Financial Position LEARNING OBJECTIVES After studying this
More informationSection 12-1-Researching Investments and Markets
Section 12-1-Researching Investments and Markets Sources of Investing Information Magazines Business Week, Fortune and Forbes Contain information that can be helpful to investors Read business articles
More informationChapter Organization 8.1. Common Stock Valuation 8.2. Some Features of Common and Preferred Stock 8.3. Stock Markets
Chapter 8 Stock Valuation Chapter Organization 8.. Some Features of Common and referred Stock A share of common stock is more difficult to value in practice than a bond for at least three reasons:. with
More informationUNITS OF OIL SANDS SECTOR FUND ANNUAL INFORMATION FORM. For the year ended December 31, 2013
UNITS OF OIL SANDS SECTOR FUND ANNUAL INFORMATION FORM For the year ended December 31, 2013 March 31, 2014 TABLE OF CONTENTS THE TRUST... 1 INVESTMENT CRITERIA... 2 INVESTMENT RESTRICTIONS... 2 Related
More informationPRAIRIESKY ROYALTY LTD. DIVIDEND REINVESTMENT PLAN
PRAIRIESKY ROYALTY LTD. DIVIDEND REINVESTMENT PLAN PURPOSE The Dividend Reinvestment Plan (the "Plan") provides eligible holders ("Shareholders") of common shares ("Shares") of PrairieSky Royalty Ltd.
More informationIntroduction to Fund Accounting
Classification of of Nonbusiness Organizations Introduction to Accounting for nonbusiness organizations. Five Major Classifications 1. Governmental units. 2. Hospitals and other health care providers.
More informationFile: c02; Chapter 2: The Financial System and the Level of Interest Rates
File: c02; Chapter 2: The Financial System and the Level of Interest Rates 1. The role of the financial system is to gather money from people and businesses that have funds to invest and to channel money
More informationTD Managed Index Income & Moderate Growth Portfolio
TD Managed Index Income & Moderate Growth Portfolio 591000 (08/17) TD Managed Assets Program for the period ended nmanagement s Responsibility for Financial Reporting The accompanying unaudited interim
More informationNORDTHLARND PIOWPER INC.
Dividend Re-Investment Plan NORDTHLARND PIOWPER INC. Amended and Restated Shareholder Dividend Re-Investment Plan DIVIDEND REINVESTMENT PLAN Table of Contents Introduction... 2 Overview... 3 Definitions...
More informationALTAGAS INCOME TRUST
Introduction ALTAGAS INCOME TRUST Premium Distribution TM, Distribution Reinvestment and Optional Unit Purchase Plan of AltaGas Income Trust for Holders of Trust Units This Premium Distribution TM, Distribution
More informationD. Stocks that are listed on exchange floors are also traded in the over-the-counter market.
Volume: 325 Questions Question No: 1 Which of the following statements about the over-the-counter market is true? A. Only penny stocks are traded in the over-the-counter market. B. Trades in the over-the-counter
More informationReplacement of Current Dividend Reinvestment and Share Purchase Plan
Premium Dividend, Dividend Reinvestment and Optional Common Share Purchase Plan Certain capitalized terms in this Premium Dividend TM, Dividend Reinvestment and Optional Common Share Purchase Plan have
More informationINTERIM FINANCIAL STATEMENTS
INTERIM FINANCIAL STATEMENTS (UNAUDITED) June 30, 2018 STATEMENT OF FINANCIAL POSITION (Unaudited) As at June 30, 2018 Assets Current assets Investments $ 10,971,877 Cash 211,579 Dividends and interest
More informationChapter. The Stock Market. The Stock Market. Private Equity and Venture Capital. Venture Capital, I. Selling Securities to the Public
Chapter The Stock Market Our goal in this chapter is to provide a big picture overview of: 5 The Stock Market Who owns stocks How a stock exchange works, and How to read and understand the stock market
More information