Management Fee	A fee levied by a commodity trading advisor. It is normally quoted as an annual percentage of the assets under management and is charged whether or not the client makes money.
Margin (futures)	The amount of money or collateral deposited by a client with a broker, or by a clearing member with the clearinghouse, as required by the exchange and/or clearinghouse for open futures positions. Initial margin is the total amount of margin per contract required by the broker when a futures position is opened by a customer; maintenance margin is the minimum amount of money per contract that must be maintained on deposit at all times the position is open.
Margin Call	(1) A request from a brokerage firm to a customer to bring margin deposits back to initial levels, normally because of losses resulting from an adverse price move; (2) a request by a clearinghouse to a clearing member to make payments to or increase deposits at the clearinghouse.
Market Maker	A financial institution or individual that consistently makes buy and sell quotations for a financial instrument, thereby making a market in the instrument and profiting from the bid-ask spread.
Mark-to-market	To debit or credit, on a daily basis, a futures margin account based on the settlement (end-of-day) price of a particular futures contract.
Maturity	(1) The length of time until the principal amount of a bond must be repaid. (2) The end of the life of a security.
Minimum price fluctuation	Smallest price change possible in a futures or options contract. Also called the tick value.
Nearby futures	The futures contract(s) closest to expiration.
Net position	The difference between total open long and open short positions in a given security held by an individual.
Notional value	The total value of a leveraged position's assets. This term is commonly used in the options, futures and currency markets because in them a very little amount of invested money can control a large position (have a large consequence for the trader).