This term refers to the initial period of time when a party purchases a stock and they are not entitled to participate in recently declared benefits. For example a party may not receive the first dividend payment when they purchase a new stock.

Previous Terms: 1031 Exchange, 1035 Exchange, AARP, Abeyance, Abstraction Principle, Accelerated Amortization, Acceptance Credit, Acceptance of a Bill of Exchange, Accommodation Bill, Accommodation Endorser