BATS: means the Bahrain Stock Exchange's Automated Trading System.

Bid: means an order by a stockbroker to buy securities at a certain price, or a price that a buyer is willing to accept for his securities.

Board Lot: means a standard number of shares or stock, as determined by the Exchange, which can be traded on the market.

Board Trading Session: means a stage during the trading session when any simultaneous arrangements and special trades are dealt in. This usually takes place during the Pre-Opening session of BATS.

Chairman: means the Chairman of the Exchange.

Client Contract Notes: are a record of the details of the match, its total value and all charges.

Client Order: means an order placed for the account of a client, or the client is the beneficial owner of the securities traded.

Director: means the Director of the Exchange.

Exchange: means the Bahrain Stock Exchange.

Exchange Account Number: means an account number generated by the Exchange, to serve as the point of reference for administrative purposes.

Deal, Match, Trade: are three terms used interchangeably to refer to bids and offers which have been either wholly or partially satisfied.

Foreign Investor Order: means an order placed for a non-Bahraini investor's account, whether an individual or institution.

Insider Order: means an order made for the account of the officers and directors of listed companies to buy or sell shares of such companies, and orders made for the account of a person who owns more than 10% of the stock of these companies.

Issuer Order: means an order made by the issuing company when it desires to repurchase its shares on the open market.

Market Imbalance: means a situation in the Pre-Opening market when the best bid is higher than the best offer.

Market Controller: means an Exchange official who manages the trading operations of the Exchange, in accordance with this Resolution.

Market Control Order: means an order made by the Market Controller to buy or sell shares in buy-in or sell-out situations.

Market Maker: means an authorized trader employed by an investment dealer who is required to maintain reasonable liquidity in the securities market, by making firm bids and offers for one or more designated securities.

Mutual Fund Order: means an order made for the accounts of investment companies.

Offer: means an order by a stockbroker to sell securities at a certain price, or a price which the seller will accept for his securities.

Opened: means a state during the trading session where all securities are fully opened and continuous trading activity can occur.

Opening Algorithm: means a calculation used on opening the Exchange to calculate an opening price for each security.

Order Log Book: means a register maintained at the offices of each stockbroking firm, containing details on each buying and selling order received by the firm.

Order: means an instruction from a client to a stockbroker to buy or sell securities.

Pre-Opening: means a state during the trading session where stockbrokers can enter orders and view inquiries.

Price: means the unit price of a security.

Professional Order: means an order made for the accounts of partners, directors, officers, investment advisors of brokerage firms, listed companies, employees of the Exchange and brokerage firms.

Queue Priority: means all orders in the system are sorted according to priority of orders for execution, in accordance with the Queue Priority rules as outlined in these Rules and Procedures.

Regular Order Book: means a book that contains all unfilled orders without any special terms. Regular orders are given priority in trading over all other orders.

Symbol: means a set of characters that identifies the security being traded.

Tick Size: means the step-by-step increase or decrease in price by which bids and offers may be raised or lowered.

Trade Range: means the percentage increase/decrease from the trade weighted average price dealt in during the last trading session, in which that particular security was traded.

Trading Board: means the facility provided by the Exchange for manual matching during the Board Trading Session.

Trading Floor: means the room, area and other facilities designated or made available by the Exchange for effecting trades and other transactions between members during the trading sessions of the Exchange.

Trading Session: means the period during which orders can be entered, amended, or cancelled and trading takes place. A typical trading session contains a Pre-Opening and an Opened session.