DISCOUNT PAPER is securities that are issued at a discount and mature at face, or par value. The difference, rather than coupon payments, represents the interest earned at maturity .
SOES (Small Order Execution System) trading is an electronic method of day trading the NASD market. At present, SOES trading is at the center of controversy between the NASD, SEC, individual traders, and the courts. SOES is changing the way trading is done on the NASD, and it may rewrite the rules of the game for trading. Bandits is just a term being used for the individuals using the SOES system for day trading.
VALUATION DATE is the specific point in time as of which the valuator's opinion of value applies (also referred to as "Effective Date" or "Appraisal Date").
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