J
Jitney
The execution and clearing of orders by one member of a stock exchange
for the account of another member. For example, investment dealer A is
a small firm whose volume of business is not sufficient to maintain a
trader on the exchange. Instead it gives its orders to investment dealer
B for execution and pays a reduced percentage of the normal commission.
Junior Bond Issue
A corporate bond issue, the collateral for which has been pledged as
security for other more senior debt issues, and therefore ranks behind
these prior claims.
Junior Debt
One or more junior bond issues.
