Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
Showing 2 terms
The smallest increment by which a security's price may move, typically 5 paise for most Indian equities.
It sets a floor on how tight a bid-ask spread can ever be. That floor bites hardest in low-priced stocks, where one tick is a meaningful percentage.
The exchange document defining a derivative contract — lot size, quotation unit, tick size, expiry, settlement basis, and for a deliverable commodity the grade and delivery centre.
For a commodity this is the nearest thing to reading an annual report. It tells you what would actually be delivered, where, and in what quantity, which is what the price is a price of.