Page 102 - PRIAA Glossary
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LIFECYCLE EVENTS
Post-trade events, such as portfolio compression, credit events, succession events, maturities, expiries, exercises payment calculations and settlement. Event management refers to industry efforts to automate the processing of lifecycle events.
LIGHTERING
Ship-to-ship transfer of cargo between larger vessels such as VLCCs or Suezmaxes to smaller vessels known as service vessels. Lightering enables larger vessels to load or discharge cargo in locations where port restrictions prevent their entry.
LIMIT (UP OR DOWN)
The maximum price advance or decline permitted during one trading session, as fixed by the rules of an exchange.
LIMIT MOVE
A price that has advanced or declined the permissible limit during one trading session, as fixed by the rules of a contract market.
LIMIT ORDER
An order to buy or sell at a specified price or better.
LIQUEFIED NATURAL GAS (LNG)
Compressed natural gas (mainly methane), which is reduced to a liquid form by cooling it to -26o Fahrenheit. The volume of LNG is 1/6th of its volume as gas vapour.
LIQUEFIED PETROLEUM GAS (LPG)
A flammable mixture of hydrocarbon gases used as fuel in heating appliances and vehicles.
LIQUIDITY
The ability to purchase or sell an asset quickly and easily at a price close to fair market value.
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