Cyber*School

Current assets / short-term liabilities x 100i

A valuation ratio of a company's current share price compared to its per-share earnings. Calculated as: Market Value per Share / Earnings per Share (EPS); EPS is usually from the last four quarters (trailing P/E), but sometimes it can be taken from the estimates of earnings expected in the next four quarters (projected or forward P/E). A third variation uses the sum of the last two actual quarters and the estimates of the next two quarters.

Income (interest or dividends) divided by the current price of the security. This measure looks at the current price of a bond instead of its face value and represents the return an investor would expect.

A custodian bank manages the fund's assets in trust, holds the equity securities and deals with the settlement of the fund company and the transactions of the fund manager on instruction.

The financial institution books all securities purchases and sales to this account and the related account statement reflects the value of all the client's investments.

The fee received by a bank or a investment company for custody and administration of fund shares.

Customer transactions are conducted between the Bank and the Customer at the published rate in the quotation list.

Daily adaptation of the deposited margin (safety requirements) on the basis of market risk.

abbr. Delta Added Value on Equity

A stock index that represents 30 of the largest and most liquid German companies that trade on the Frankfurt Exchange. The prices used to calculate the DAX Index come through Xetra, an electronic trading system. DAX member companies represent roughly 75% of the aggregate market cap that trades on the Frankfurt Exchange.

Market participants who try to identify and exploit daily trends. Often, the positions are held only for minutes or hours, or are at least closed out on the same day by offsetting transactions.

see intraday limit

A type of debt instrument that is not secured by physical assets or collateral. Debentures are backed only by the general creditworthiness and reputation of the issuer. Both corporations and governments frequently issue this type of bond in order to secure capital. Like other types of bonds, debentures are documented in an indenture.

In the balance sheet of a company's reported debt of a company with varying maturities. Extensive borrowing, increasing the risk of liquidity problems and repayment difficulties.

(Disagio) The debt discount gives the difference between the issue rate and the higher nominal value or repayment course of a loan (issue discount). An issue of shares with discount is not allowed in Germany, with fixed-interest securities it is usual. Opposite: Premium

Debt securities include the right to regain a certain amount after a certain time from the issuer and earn interest during the term.

They arise in the profit centers (home and corporate customer business, branch offices) and are directly attributable to customer business.

According to the Basel Committee, a default is considered to have occurred when either or both of the two following events have taken place:1) The bank considers that the obligor is unlikely to pay its credit obligation in full2) The obligor is past due more than 90 days

Government bonds, which can be delivered in fulfillment of the bond futures.

Fulfilling the obligations in the allocation of a particular call option writer. For certain options (index options) delivery and payment are replaced by cash settlement.