Glossary
Off market transfer
The transfer of shares between parties without going through the market place. Off-market transfers are executed through the use of an "Australian Standard Transfer Form".
Offer
Price at which someone is prepared to sell securities. (opposite of bid).
Offer period
In relation to a takeover bid, the period for which offers under the bid remain open; or in relation to a Scheme, the period from the date an announcement of intention to propose a Scheme is first received by the Exchange until the date on which the Scheme is effected.
Officer (of a company)
A director, secretary or external administrator (in most cases) of the company
Official list
Names of securities permitted quotation and so, trading on ASX. Referred to in the Listing Rules as the Official list.
Offset account
A transaction account that is linked to a mortgage account. It reduces your interest payable as interest is only charged on the net balance, i.e. your mortgage balance less your offset account balance.
Open ended fund
Managed investment where there is no restriction on the number of units in the fund that will be issued. ETFs are open ended funds.
Open interest / open position
Number of contracts outstanding or 'open' in a particular class or series of options or futures.
Opening price(or range)
Price (or price range) recorded during the period when an instrument commences trading.
Option
A contract between two parties that gives the buyer/seller the right, but not the obligation, to buy/sell an asset, at a set price, on or before a specific future date.
Ordinary share
The most commonly traded security in Australia. Holders of ordinary shares are part-owners of a company and may receive payments in cash, called dividends, if the company trades profitably. They have no preferential rights as to either dividends out of profits or capital on a winding up.
Original co-contributions
ATO term - The original co-contribution entitlement.
OS
Trading condition code. See overseas trade.
OSXT
Combination of two trading condition codes, OS and XT. One market participant buying / selling outside Australian market hours.
Out-of-the-money
Call (put) option or warrant for which the current market price of the underlying asset is below (above) the exercise price.
Overdraft facility
An arrangement that allows you to withdraw more funds than you have in your account.
Overdrawn account
When the limit on a credit card or bank account (including any overdraft facility) has been exceeded.
Overseas home exchange
Defined in the Listing Rules as the place of an entity's primary listing.
Overseas trade
A trade consummated in a foreign country outside of Australian market hours by a resident of that country through an approved exchange during their open hours.
