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.

Prerequisite for a listing on the stock exchange

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

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.