Transfer of securities which require special documents because they involve the settlement of estates of deceased shareholders, trust accounts, or corporation holdings.

A "Market Maker" is a firm that stands ready to buy and sell a particular stock on a regular and continuous basis at a publicly quoted price. You'll most often hear about Market Makers in the context of the Nasdaq or other "Over The Counter" (OTC) markets. Market Makers that stand ready to buy and sell stocks listed on an exchange, such as the New York Stock Exchange, are called "third Market Makers." Many OTC stocks have more than one market-maker. Market-makers generally must be ready to buy and sell at least 100 shares of a stock they make a market in. As a result, a large order from an investor may have to be filled by a number of market-makers at potentially different prices.

The risk that the stock market will go down ('bear market') rather than up ('bull market'). The only certainty of reducing market risk lies in long-term investing, as bear markets always eventually end.

A statement (stamp and signature) given by a financial institution such as a commercial bank, credit union, brokerage firm, etc., that are members of the Securities Transfer Association Medallion Program (STAMP), NY Stock Exchange Program or Stock Exchange Medallion Program (SEMP, MSP.) The Medallion Program is not a notarization.

A program developed by the Securities Transfer Association to meet the requirements of an SEC Rule which increases the number and type of financial institutions eligible to guarantee signatures. By Medallion Guaranteeing the stock to be sold, assigned or transferred, the financial institution is taking financial responsibility if the transfer is completed fraudulently. A Medallion guarantee may be obtained from a commercial bank, brokerage firm, credit union or savings and loans institutions that are members of the Medallion Stamp Program.

A fund operated by an Investment Company that raises money from shareholders and invests it in stocks, bonds, options, commodities, or money market securities.

National Association of Securities Dealers Automated Quotations. This computerized system provides price quotations on securities traded over-the-counter.

Provided by a Notary Public; a notary seal signifies that the party signing the document has sworn that contents of the document are truthful and accurate.

The OTC Bulletin Board (OTCBB) is an electronic quotation system that displays real-time quotes, last-sale prices, and volume information for many Over-The-Counter securities that are not listed on The Nasdaq Stock Market or a national securities exchange. Brokers who subscribe to the system can use the OTCBB to look up prices or enter quotes for OTC securities. Although the National Association of Securities Dealers, Inc. oversees the OTCBB, the OTCBB is not part of The Nasdaq Stock Market. Under the OTCBB's eligibility rule, companies that want to have their securities quoted on the OTCBB must file current financial reports with the SEC or with their banking or insurance regulators.

The buying and selling of securities through a nationwide network of brokers and dealers. 'OTC' stocks are not listed on an exchange but are sold primarily through NASDAQ.