LAF
Liquidity Adjustment Facility【HKMA】
LAN
Local Area Network
LAW
Liquidity Adjustment Window
LBO
leveraged buy-out
Legal person shares
Chinese company’s shares held by legal persons prior to IPO. Legal person shares are not tradable in China stock market.
LIBOR
London Interbank Offered Rate
LIFFE
London International Financial Futures and Options Exchange
LIFO
last in, first out
Limit order
An order to a broker to buy a specified quantity of a security at or below a specified price, or to sell it at or above a specified price (called the limit price). opposite of no limit order.
Limit up, Limit Down
Maximum price movement allowed for trading during one trading day.
Liquidity
Being able to convert assets into cash easily, quickly and with little or no loss of capital. A liquid market is a market with enough participants to make buying and selling easy. (1) How easily one’s assets can be converted back into cash. For example, money in an account that can’t be withdrawn for ten years is not very liquid. (2) The ability of the market in a particular security to absorb a reasonable amount of buying or selling at reasonable price changes. Liquidity is one of the most important characteristics of a good market.
Listed company
A company which has agreed to abide by exchange Listing Rules so that its shares can be bought and sold on exchange.
LOBO
Long Only Brokers for Options
LOF
Listed open-end fund
LSE
London Stock Exchange
LTOM
London Traded Options Market