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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.

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  1. A-Share

    Shares of Chinese corporations listed in Shanghai or Shenzhen in Renminbi.

  2. AAA rating

    Highest rating of creditworthiness and, therefore, the expected financial solvency of a company or country. It is spelled "Triple A". 

  3. abs.

    Abbreviation of ’’absolute difference’’

  4. Access point

    Access point to Deutsche Börse’s IT network

  5. 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.

  6. Accumulate

    Positive evaluation of a share by analysts

  7. Acquisition currency

    Means of payment used in the takeover of a company

  8. 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.

  9. Ad-hoc disclosure

    Obligation of issuers of securities to immediately report and publish any information that might have a bearing on the price of their securities.

  10. Additional margin

    Collateral furnished by holders of options or non-spread futures contracts to cover the potential costs of closing out their positions.

  11. Admission of securities to the Regulated Market

    Decision of the Admissions Office of an exchange to admit a security to the Regulated Market

  12. Admission to the exchange

    Prerequisite for a listing on the stock exchange

  13. Admissions Office

    Stock exchange body in charge of admitting securities to the Official Market (Amtlicher Markt)

  14. Advance-decline (AD)

    Technical trend indicator based on the number of advancing stocks less the number of declining stocks.

  15. AIBD return (ISMA return)

    International standard for evaluating the real interest return on bonds in which interest is compounded on a daily basis.

  16. AIBD return (ISMA-return)

    International standard for evaluating the real interest return on bonds in which interest is compounded on a daily basis

  17. Allotment

    Method of distributing securities to investors if an issue has been oversubscribed

  18. American depositary receipt (ADR)

    A receipt for foreign shares issued by a US bank

  19. 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.

  20. American-style option

    An option that can be exercised at any time prior to maturity