Our comprehensive glossary explains many of the terms commonly used in the international markets.

Join bid

A limit order to buy at the current bid price.

Join offer

A limit order to sell at the current Offer (Ask) Price.

Joint stock company

Company owned jointly by a number of shareowners. The shares of a public joint stock company are readily transferable from one person to another and can conveniently be marked on a stock exchange.

Judicial management

Where a company is wound up for financial reasons, it is sometimes the case that it could have been saved had it been managed well. Judicial management was introduced to assist this type of company to overcome a temporary setback without going out of business. A judicial management order usually gives the company a moratorium on its debts. Essentially, the court replaces the directors. A provisional judicial manager is appointed, to assume control until the final judicial manager can be appointed. Application for judicial management may be made by the company itself, a creditor or a member. If the judicial manager cannot return the company to solvency, then he may recommend to the court that it is wound up.