© 2016 Shmoop University, Inc. All rights reserved.

Finance Glossary

Just call us Bond. Amortized bond.

Over 700 finance terms, Shmooped to perfection.

Program Trades


Program trades are computerized trades that usually involve a lot of shares and a lot of money.

Investors make these trades directly with the system of computers used by the exchanges—no going through brokers like a chump. Usually, you can only complete program trades at specific times of day because the size of the trade can affect market prices.