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1. A participant in (promoter of) stock exchange transactions who seeks to profit on the increase in the value of securities, currencies, and commodities. A bull acquires exchange commodities at a rate that is fixed at the time of the transaction. The trader seeks to execute the transaction at a moment when the rate is increasing in order to obtain a profit on the differences in rates.

2. A speculator who anticipates future price increases. He buys contracts at the lowest price with a view of selling them at a higher price. Income is obtained on the basis of the difference in the values of the exchange contracts at the time of purchase and at the time of sale minus the amount of the commission.

An individual or legal entity engaged in buying and selling or quoting financial instruments who acts on own behalf and at own expense; the dealer can enter into direct transactions with customers, brokers, or another dealer; the dealer profit is the difference between the purchase and sale prices of financial instruments, as well as changes in the market value thereof.

The first offering of shares or ADR to a wide range of investors to attract additional capital. As a rule, an IPO is conducted at the time when the company enters the stock exchange. Often, the purchase of shares during an IPO resembles a lottery: in the course of subsequent trading, the stock price may either rise or fall significantly.