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Ex-legal is a term that means that there is no legal opinion. An "ex-legal" delivery of municipal securities, for example, would mean that the securities were delivered without at copy of the legal opinion being provided.

The ex-dividend date is the date set on which a stock will begin trading without the value of a pending dividend included in the contract price. The ex-dividend date is usually two business days prior to the record date.

A European style option can only be exercised the day prior to expiration — as opposed to the American style option which can be exercised any time prior to expiration.