Beginner Investing

Named order

A limit order that is displayed alongside the mnemonic of the participant that submitted it.

NASDAQ

National Association of Securities Dealers Automated Quotation (NASDAQ) – the first electronic stock market in the world.

Net

The amount remaining after deductions (e.g. after tax adjustments have been made).

Net asset value (NAV)

In the context of trusts and funds, NAV is the total value of the fund’s portfolio less liabilities.

New issue

An issue of shares: when a company either comes to the market for the first time or issues extra shares.

Nominated Adviser (NOMAD)

Exchange-approved adviser for AIM companies. AIM companies must retain a nominated adviser at all times.

Nominated Broker (NOMBRO)

The broking firm for AIM companies that brings buyer and sellers of the company's shares together.

Non-anonymous order

An order that is displayed alongside the mnemonic of the participant that submitted it.

Non-Protected Portfolio

The transaction was reported as a non-protected portfolio transaction or a fully disclosed portfolio transaction.

Non-Risk Trade

These trades are the same as Ordinary trades but specifically for SEATS based segments only (i.e. SEQ1, AIM, SEAT)

Normal market size (NMS)

A value assigned to a security by the Exchange. The NMS indicates the liquidity of that security. For quote-driven securities, the NMS is used to calculate the minimum quote size within which market makers are obliged to trade.

NOTR

Non Trading Day

NTR1

Non Trading Day

NTR2

Non Trading Day

NYSE

The New York Stock Exchange (NYSE), the world’s largest stock exchange, with a combined market capitalisation of £6 trillion in 2002.