Page 123 - PRIAA Glossary
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ODORISATION (NATURAL GAS)
The process of adding an oderant to natural gas, which is naturally odourless and flammable, so that it is easily detectable by people.
OFFER/ASK PRICE
The price at which a trader or market maker is willing to sell a contract.
OIL POLLUTION ACT (OPA 90)
The US Oil Pollution Act of 1990 was enacted following
the Exxon Valdez pollution incident in 1989 and requires companies to have a “plan to prevent spills that may occur” and have a “detailed containment and clean-up plan” for oil spills. It also called for the phase-out of single hull tank ships in the United States by 2015.
OMNIBUS ACCOUNT
A central trading account that represents multiple sleeves or subaccounts to the street. Trades made on behalf of the account are then distributed amongst the sleeves as holdings. The public-facing account for other internal subaccounts.
ONTARIO SECURITIES COMMISSION (OSC)
The regulatory body that administers and enforces securities laws and regulations in Ontario Canada and regulates the Toronto Stock Exchange.
OPEN TRADE EQUITY
The unrealised gain or loss on an open position.
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