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| EONIA |
European Overnight Index Average, calculated by the European Central Bank. The average effective interest rate on unsecured overnight lending reported by the banks on the Euribor panel, weighted by the volume of overnight lending. It is published the following day by Bridge-Telerate.
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| ETV |
Exchange Traded Vehicle |
| EURIBOR |
Euro Interbank Offer Rate. Indicates the cost of borrowing in the European Union.
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| EURO. NM Belgium |
Belgian section of a synergy between the stock exchanges of Paris, Frankfurt Ãmsterdam and Brussels. Each of them incorporates in its own country a partly quote and partly order driven market for young growing companies. The market regulations will be congruent for all "new markets".
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| Earnings |
The amount of profit a company realises over a given time period after all costs, expenses, and taxes have been paid.
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| Earnings Per Share (EPS) |
The earnings of a corporation, also known as net income or net profit, divided by the number of shares outstanding.
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| Effetive gearing |
The ratio between a percentage change in the underlying security and the resulting percentage change in the warrant's price. Also called Elasticity.
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| Eurolist Market |
The regulated market of the Euronext Paris, launched on 21 February and formed from the merger of the exchange's three former markets. Companies are listed in alphabetical order and divided into three segments according to market capitalisation: Segment A for companies capitalised at more than €1 billion, Segment B for those with capital of between €150 million and €1 billion, and Segment C for those capitalised at less than €150 million. Some 700 companies are listed on the Eurolist Market.
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| Euronext |
Pan-European exchange created from the merger of the equity and derivatives exchanges of Amsterdam, Brussels, Lisbon, London and Paris. Euronext Paris, the French arm of the holding company Euronext NV, operates the Paris markets and performs the following functions:
- operating the electronic trading systems, i.e. recording transactions between exchange members through a clearing house that guarantees payment and delivery,
- managing memberships and the listing and delisting of securities,
- disseminating market information and trade data,
- promoting the market to issuers and investors.
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| European passport |
Mutual recognition of investment firms which issue from the European Union, giving them access to all stock exchanges of the E.U.
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| European style warrant |
A warrant that can be exercised only on the expiry date.
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| European-style warrant |
A warrant that can be exercised at expiration. (See also American-style warrant).
Exercise: To make use of the rights granted to the owner of a warrant. In the case of a call, the warrant owner buys the underlying. In the case of a put, the warrant owner sells the underlying.
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| Ex-Dividend Date |
In general the date after the day that dividend has been announced.
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| Exchange |
Central location in which financial instruments (shares, bonds, etc.) are bought and sold. Exchanges are a source of financing for a country's economy. They allow private and publicly owned companies and local and central government to raise funds to finance their investments. In France, the exchange is operated by Euronext Paris.
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| Exercice automatique |
The situation when, upon expiry, the value of a warrant (if positive) is automatically paid to the holder.
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| Exercise |
To use the rights given by the warrants, e.g. to buy or sell the underlying security for call and put warrants, respectively. The exercise procedure is detailed in the Pricing Supplement.
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| Exit fee |
See Redemption fee
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| Expiry date |
The date on which a warrant and the right to exercise it, cease to exist.
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| Expiry or completion date |
The date after which the warrant may no longer be exercised or traded.
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