Definition of Majority voting

Majority voting

voting system under which each director is voted upon separately. Related: cumulative voting.

majority voting

voting system in which each director is voted on separately.

Block voting

A group of shareholders banding together to vote their shares in a single block.

Cumulative voting

A system of voting for directors of a corporation in which shareholder's total number of
votes is equal to his number of shares held times the number of candidates.

Straight voting

A shareholder may cast all of his votes for each candidate for the board of directors.

Supermajority

Provision in a company's charter requiring a majority of, say, 80% of shareholders to approve
certain changes, such as a merger.

Voting rights

The right to vote on matters that are put to a vote of security holders. For example the right to
vote for directors.

cumulative voting

voting system in which all the votes one shareholder is allowed to cast can be cast for one candidate for the board of directors.

Subsidiary company

A company that is controlled by another company through ownership
of the majority of its voting stock.

Block house

Brokerage firms that help to find potential buyers or sellers of large block trades.

Block trade

A large trading order, defined on the New York Stock Exchange as an order that consists of
10,000 shares of a given stock or a total market value of $200,000 or more.

Blocked currency

A currency that is not freely convertible to other currencies due to exchange controls.

Give up

The loss in yield that occurs when a block of bonds is swapped for another block of lower-coupon
bonds. Can also be referred to as "after-tax give up" when the implications of the profit or loss on taxes are
considered.

Greenmail

Situation in which a large block of stock is held by an unfriendly company, forcing the target
company to repurchase the stock at a substantial premium to prevent a takeover.

Pickup

The gain in yield that occurs when a block of bonds is swapped for another block of higher-coupon bonds.

Program trades

Also called basket trades, orders requiring the execution of trades in a large number of
different stocks at as near the same time as possible. Related: block trade

Secondary issue

1) Procedure for selling blocks of seasoned issues of stocks.
2) More generally, sale of already issued stock.

Take-out

A cash surplus generated by the sale of one block of securities and the purchase of another, e.g.
selling a block of bonds at 99 and buying another block at 95. Also, a bid made to a seller of a security that is
designed (and generally agreed) to take him out of the market.

Upstairs market

A network of trading desks for the major brokerage firms and institutional investors that
communicate with each other by means of electronic display systems and telephones to facilitate block trades
and program trades.

Wanted for cash

A statement displayed on market tickers indicating that a bidder will pay cash for same day
settlement of a block of a specified security.

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