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Definition of 'Zero Minus Tick'
A securities trade executed on an exchange at the same price as the preceding trade, but at a lower price than the last trade of a different price. For example, if a succession of trades occur in the following order - $10.25, $10.00, and $10.00 - the last trade would be considered a zero minus tick or zero downtick trade.
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Investopedia explains 'Zero Minus Tick'
Until 2007, Securities And Exchange Commission (SEC) regulations prohibited against selling a stock short on a down tick or a zero minus tick. As a result potential short sales would have to pass a tick test to make sure that the stock was trading up or flat before the short sale could go through. The restriction was eliminated after the SEC concluded that U.S. markets functioned orderly enough that excessive short sales would not artificially drive down prices. The advent of decimalization also helped the rule get lifted because it reduced the average size of a tick move from fractions to pennies.
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Search results for 'Zero Minus Tick'
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http://www.investopedia.com/exam-guide/series-7/customer-accounts/plus-tick-rule.asp
In this section plus tick, minus tick, zero-plus tick and zero-minus tick explained. ...
If, instead, it sells at $60.09, that is a zero-minus tick. ...
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http://www.investopedia.com/exam-guide/series-7/derivatives/calls-puts.asp
... You just made $80,000 ($8 per share times $10,000), minus transaction costs, because
a ... Derivatives are a zero-sum game with a winner and a loser every time an ...
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http://www.investopedia.com/articles/trading/10/adaptive-price-zone-indicator-explained.asp
... EMA of five-period EMA of the current high minus the current low ... of a trend, shown
on a scale of zero to 100 ... Figure 3: This 144-tick chart of the e-mini Russell ...
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http://www.investopedia.com/exam-guide/series-7/packaged-securities/default.asp
... at a premium or discount to its net asset value (fund assets minus liabilities ... The
caps vary by PPS and employ options, stock futures and zero-coupon bonds that ...
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