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 Management Company - Company managing a mutual fund or other type of investment trust.
Manipulation - Act of artificially influencing the price of a security by a person or group; often cited in securities fraud cases.
Margin - (1) Difference between the revenues received by a company for its products and services and the cost of producing and selling them (often called "profit margin"); or (2) amount a customer deposits with a broker when borrowing from the broker to purchase securities. Trading on margin allows investors to control or leverage a greater amount of securities with the same cash and thus potentially increase profits. The amount of margin an investor can use is determined by the value of cash and certain qualifying securities in the client’s account as regulated by Federal securities laws.
Margin Call - Demand to deposit additional cash and securities into a client’s account to satisfy minimum margin requirements set by Federal regulation.
Markdown - Amount by which a dealer decreases the price of a security it pays to a client before selling it to another client. Markdowns are most often associated with stocks that trade over-the-counter. (See "Markup")
Market - Place where products or services are bought and sold or a group of people engaging in such activities but, is often used to describe just about anything associated with the stock market or investing in securities. Also describes the act of creating liquidity in a security or "making a market," the activity of buying and selling securities from a broker dealer’s account in order to facilitate a market for others.
Market Capitalization (Cap) - Value of a company as measured by the total dollar value of its common shares outstanding, i.e. stock price multiplied by number of shares outstanding to determine, market capitalization.
Market Order - Order to buy or sell a security at the best available price; often used to ensure the fastest transaction execution but, carries the risk of buying or selling at a price unknown to the client placing the order.
Market Price - Price of a security in the stock, bond or derivative market, or the value of an asset if it were to be sold.
Markup - Amount which a dealer increases the price of a security it owns before selling it to a client. Markups are most often associated with stocks that trade over-the-counter. (See "Markdown")
Matched Order - Illegal practice by one or more parties conspiring to enter identical buy and sell orders to create the appearance of trading. (See "Painting the Tape")
Maturity Date - Date on which a bond or other debt security expires and any outstanding principal is paid to bond holders.
Member Firm - Brokerage firm which is a member of a stock exchange or self-regulatory agency such as the NASD.
Midwest Stock Exchange - Regional stock exchange where a limited number of securities are bought and sold in the "third market."
Minority Interest - Interest of shareholders owning less than 50% of a company’s outstanding voting shares.
Minus Tick - Term describing a trade in a security that was executed at a lower price than the previous trade; same as "Down Tick."
Monetary Policy - Federal Reserve policy which focuses on the supply of money in the economy through the tightening or easing of credit to the banking system or the raising or lowering of the discount rate or interest rate the charge by the Federal Reserve to it’s member banks.
Money Market - Vehicle for buying and selling short-term debt instruments.
Moody’s Investors Service - Widely recognized service, published by Dun & Bradstreet, providing credit ratings and analysis for many bonds and other securities.
Moving Average - Average price of a stock over a period of time and adjusted each day for the same period of time.
Municipal Bond - Bond issued under authority of a municipal government and whose interest payments are exempt from Federal income taxes. Also called "tax free" bonds.
Mutual Fund - Fund operated by an investment company that raises money from shareholders to invest in securities according to a prescribed objective. Each shareholder’s investment is priced at a net asset value representing that share’s portion of the collective investments of the fund and at which price shares may be purchased or redeemed (sold). Mutual funds have become the most popular method of investing for Americans. | 
