The opening cross is how Nasdaq determines the opening price for individual stocks that are traded on its exchange.
A process is undertaken to reflect the change in sentiment (and share price) for a stock between the market close yesterday and the market open today.
The auction process determines the prices to open the cross, with buyers and sellers placing bids and counter-bids until the prices match, resulting in a deal.
The purpose of the opening of the cross is to avoid surprises and provide all investors with the same information about how much demand this or that share, right at the market opening.
Arbitrageurs are investors who exploit market inefficiencies of any kind. They are necessary to ensure that inefficiencies between markets are smoothed out or kept to a minimum.
A beneficial owner is a person who enjoys the benefits of ownership, despite the fact that the ownership of the property is registered in a different name.
A central counterparty clearing house (CCP) is an organization, usually run by a large bank, that exists in European countries to facilitate the trading of derivatives and equities.
Delivered from ship (DES) was an Incoterm (an international commercial term) that applied to both inland and ocean shipping, and often to charter shipping.
Preliminary analysis in financial markets refers to the forecasting of various indicators, economic and financial, by evaluating past and present data and parameters.
Financial Information Exchange (FIX) is an information and data protocol used to distribute price and trade information to investment banks and broker-dealers.
A good delivery is understood as an unhindered transfer of ownership of a security from the seller to the buyer in compliance with all necessary requirements.