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Glossary
Glossary
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.
abs.
Abbreviation of ’’absolute difference’’
Access point
Access point to Deutsche Börse’s IT network
Accrual bond
Fixed-interest security that is issued at its face value and repaid at the end of the maturity period together with the accrued interest.
Acquisition currency
Means of payment used in the takeover of a company
Actively managed fund
Mutual fund in which a portfolio manager actively monitors the composition of the portfolio, buying and selling securities in response to changing market conditions.
Additional margin
Collateral furnished by holders of options or non-spread futures contracts to cover the potential costs of closing out their positions.
Admission of securities to the Regulated Market
Decision of the Admissions Office of an exchange to admit a security to the Regulated Market
Admission to the exchange
Prerequisite for a listing on the stock exchange
Admissions Office
Stock exchange body in charge of admitting securities to the Official Market (Amtlicher Markt)
AIBD return (ISMA return)
International standard for evaluating the real interest return on bonds in which interest is compounded on a daily basis.
Allotment
Method of distributing securities to investors if an issue has been oversubscribed
American depositary receipt (ADR)
A receipt for foreign shares issued by a US bank
American depositary share (ADS)
Depositary shares by means of which the registered shares of foreign companies can be traded on the US exchanges NYSE and NASDAQ.
American-style option
An option that can be exercised at any time prior to maturity
Annual General Meeting
Meeting of the shareholders and bodies of a stock corporation
Arbitrage
Exploiting pricing or interest rate differences for an asset traded on different exchanges
Ask
The name for the price at which a market participant wants to sell a particular security
Ask price
The lowest price at which a market participant is willing to sell a security (representing the supply side of the transaction)
Asset class
A way of categorising the capital market
Asset-backed security
Tradable bond that is backed by accounts receivable