see SDR

Are only available to institutional investors (max. 10) and can not be purchased by private investors. They are used mainly for accruals and pensions or for an individual fund management of a financially strong institution.

Represent values in certain industries.

The Specialist is a special type of liquidity provider, in comparison with the market maker, he is a kind of super-market-maker. He agrees on quotes towards higher volumes and tighter spreads.

A legal entity that is established for a clearly defined purpose. After reaching its purpose, the company may be dissolved again.

The specific valuation allowance is used for the revaluation of a company's receivables. Thereby recognized foreseeable risks of default on individual exposures in the balance sheet will be taken into account. For banks valuation allowances have special significance because in case of banks loans and advances to customers account for a large share of the assets. The (threatened) failure of a borrower leads to form a specific valuation allowance at the lending bank.

a deal which has to be ful filled immediately, whereby -immediately- can be defined differently depending on the market,in foreign exchange market the spot-value is two working days after the trade date.

Market for businesses that need to be fulfilled immediately or shortly after the completion.

In contrast to the continuous quotation, the rate is established only once during the trading session.

see Zero Coupon Rate

indicates a period which starts on spot-day and ends on the following bank day example: on Tuesday the 15.03. S/N indicates the period from 17.03. Until 18.03.

1. difference between Bid and Ask of a quote2. often used in interest-rate-, futures- and stock market to express the differece in the price of two instruments

a margin-type which is applied by the EUREX at time-spreads,It is lower than the margin at non-spread-positions, because the risk of such a position is lower due to the simultane long and short position

Method which allows the majority shareholder, force out small shareholders by means of a cash settlement from the company.

The abbreviation SSR stands for Single Supervisory Mechanism that is build up together by the ECB together with the national supervisory authorities.

Stable deposits are a part of retail exposures which are completely covered by an effective deposit insurance system or by public guarantees, which provide an equivalent level of protection and further either have close relationships with the bank (which makes a withdrawal of funds unlikely) or it concerns giro accounts, onto which, for example, salaries are deposited automatically.

An index of 500 stocks chosen for market size, liquidity and industry grouping, among other factors. The S&P 500 is designed to be a leading indicator of U.S. equities and is meant to reflect the risk/return characteristics of the large cap universe. Companies included in the index are selected by the S&P Index Committee, a team of analysts and economists at Standard & Poor's. The S&P 500 is a market value weighted index - each stock's weight is proportionate to its market value. The S&P 500 is one of the most commonly used benchmarks for the overall U.S. stock market.

see combined order

Matched minimum behavioral and organizational rules that govern the use of capital market-related information within the meaning of fairness to all market participants and adequate internal organization.

standard deviation is a measure of the dispersal or uncertainty in a random variable. For example, if a financial variable is highly volatile, it has a high standard deviation, indeed, standard deviation is frequently used as a measure of the volatility of a random financial variable.