11.   Each member also is responsible for following one of the stocks owned by the club, and a majority vote is needed to invest or trade a security.

12.   Fidelity Investments said it plans to reduce the fees it charges some of its customers who trade securities over the Internet.

13.   In effect, that means it is using much less borrowed money to trade securities.

14.   In when-issued trading, a security is traded before it receives final trading authorization.

15.   In Tokyo, Nomura Investment Management Co. stopped trading securities through Nomura, said Yoshiya Ichimura, a deputy manager at the company.

16.   In the when-issued market, a security is traded before it receives final trading authorization.

17.   In when-issued trading, securities are traded before an auction to allow market participants to gauge demand.

18.   J.P. Morgan, the fifth-largest U.S. bank, trades securities, loans money to corporations and is among the biggest underwriters of stock and bond issues.

19.   Lazard underwrites and trades municipal securities, as well as serving as a financial advisor to cities and local agencies.

20.   Loretta Sanchez, D-Calif., showed that she and her husband traded many securities in Internet companies, sometimes on the same days.