Definition of flat

1. bond traded without accrued interest. This happens if the transaction settlement date is the same as the semiannual interest payment date. Income bonds issued by companies in reorganization- interest is paid only if earned-and bonds in default usually are traded flat.
2. market maker's position that is neither short nor long at the end of a trading session. The net exposure is zero.
3. underwriter's position if all securities are sold from inventory.
4. in the foreign exchange market, broker's position in which commitments to buy a particular currency are identical to commitments to sell that currency. Also called a square position.

1. apartment, generally on one level.
2. level-payment mortgage or flat lease requirement.
3. without spark or motivation, bubble, or sizzle.
4. in bond trading, without accrued interest or accrued income. Issues in default and income bond are normally quoted and traded flat.
5. inventory of a market maker with a net zero position, that is, neither long nor short
6. position of an underwrite whose account is completely sold.
7. unchanged, as in a flat line on a graph. Thus, earnings the same aslast year's may be called "flat."

1. in bond trading, without accrued interest. This means that accrued interest will be received by the buyer if and when paid but that no accrued interest is payable to the seller. Issues in default and income bonds are normally quoted and traded flat. The opposite of a flat bond is an and interest bond. See also loaned flat.
2. inventory of a market maker with a net zero position-i.e., neither long nor short.
3. position of an underwriter whose account is completely sold.

Direct mail: oversize piece of first, standard (A), or Periodicals class mail that exceeds at least one of the dimensions for letter-size mail. Flat mail is more than 11½ inches long, more than 6 1/8 inches high, or more than ¼ inch thick. It may not exceed 15 inches long, 12 inches high, and ¾ inch thick. Flats are handled by the U.S. Postal Service separately from other mail. The actual postage due is based on the weight, class, and presort level.
Printing:

1. descriptive term for a photograph or print with little contrast between light and dark areas. See also gamma; high contrast.
2. negatives or positives arranged on a goldenrod paper or other carrier surface, used to create a printing plate.

1. an apartment, generally on one level.
   Example: A 2-room flat is an apartment having 2 rooms.

2. a level-payment mortgage or lease requirement.
   Example: A flat lease is one that requires level payments each month or other specified period.