From 4188f738eb7382cebb59bf9d4d8791a7698581b0 Mon Sep 17 00:00:00 2001
From: Bruno BELANYI <bruno@belanyi.fr>
Date: Tue, 20 Jul 2021 20:21:39 +0200
Subject: [PATCH] report: add vocabulary section to annex

---
 report.md | 19 +++++++++++++++++++
 1 file changed, 19 insertions(+)

diff --git a/report.md b/report.md
index 6fa3e74..d3adf87 100644
--- a/report.md
+++ b/report.md
@@ -457,6 +457,25 @@ expect few places to be as well-rounded as IMC.
 
 # Appendix
 
+## Vocabulary
+
+Market-making
+
+: A market-maker provides liquidity to the market by continuously quoting both
+sell and trade prices on the market, hoping to make a profit on the *bid-ask
+spread*.
+
+Bid and ask
+
+: Respectively the price for buying and selling a stock or other financial
+instrument. The closer the spread of the two prices is, the more liquidity there
+is in the market for that product.
+
+Continuous Integration
+
+: The practice of automating the integration of code from multiple contributors
+into a single software project.
+
 ## About IMC
 
 International Marketmakers Combinations (IMC) was founded in 1989 in Amsterdam,