Our exchange glossary explains the most important terms to do with the exchange business and should not leave any question unanswered. If, however, you cannot find a term, please send us an e-mail and we will add it.
Abbreviation of ’’absolute difference’’
Fixed-interest security that is issued at its face value and repaid at the end of the maturity period together with the accrued interest.
Means of payment used in the takeover of a company
Mutual fund in which a portfolio manager actively monitors the composition of the portfolio, buying and selling securities in response to changing market conditions.
Collateral furnished by holders of options or non-spread futures contracts to cover the potential costs of closing out their positions.
Decision of the Admissions Office of an exchange to admit a security to the Regulated Market
Prerequisite for a listing on the stock exchange
Stock exchange body in charge of admitting securities to the Official Market (Amtlicher Markt)
International standard for evaluating the real interest return on bonds in which interest is compounded on a daily basis.
Method of distributing securities to investors if an issue has been oversubscribed
A receipt issued by an American bank for foreign shares.
Depositary shares by means of which the registered shares of foreign companies can be traded on the US exchanges NYSE and NASDAQ.
An option that can be exercised at any time prior to maturity
Meeting of the shareholders and bodies of a stock corporation
Through arbitrage, market participants can make profits without risk exposure. Arbitrage can occur when different prices are quoted for the same security at a given point in time, either at separate stock exchanges, or in the cash and futures markets.
The name for the price at which a market participant wants to sell a particular security
The lowest price at which a market participant is willing to sell a security (representing the supply side of the transaction)
Tradable bond that is backed by accounts receivable
Asterisk (*) as a price addendum = small amounts could not be traded in whole or in part
Term used to describe a warrant with an exercise price that is equal to the current price of the underlying instrument