Alphabetical - E

Early ExerciseExercising before the maturity date.
Earnings YieldEarnings per share (after tax) expressed as a percentage of share price
EBITDAEarnings Before Interest, Tax, Depreciation and Amortisation
ECGDExport Credit Guarantee Department - government agency which provides trade insurance for exporters.
ECUEuropean Currency Unit - a weighted basket of currencies to give an "average" value especially against the dollar.
EDREuro Depositary Receipt
Efficient Market TheoryTheory that asset prices reflect currently available information and fully discount expected future cash flows.
EFTPOSElectronic Funds Transfer at Point Of Sale - a scheme which allows customers to pay retailers with an electronic card. The funds are automatically debited from a client's account and credited to the retailer's.
Eligible BillBills of Exchange eligible for sale to a central bank when acting as "lender of last resort".
Embedded OptionAn option that is an inseparable part of another instrument
Empirical ResearchResearch based on historical market data.
EMSEuropean Monetary System - general agreement on monetary cooperation. Includes official use the Ecu.
EMUEuropean Monetary Union
Endowment MortgageMortgage linked to a life-assurance scheme.
EPSEarnings Per Share
EquityGeneral terms of shares.
Equity Collar??
Equity ConvertibleBond which can be converted into the shares of the issuing company.
Equity SwapA swap where the return on an equity portfolio is exchanged for either a fixed or a floating rate of interest.
ERMExchange Rate Mechanism
ETFExchange Traded Fund
EurexThe merged German-Swiss electronic derivatives exchange.
EURIBORRate at which banks in the eurozone borrow from one another.
EuroThe European single currency
EuroBondA bond issued in the Euromarket. A bond sold in a market outside that of the domestic currency
EuroClearSecondary market clearing and settlement system
EuroCurrenciesAny currency held by banks, companies or individuals outside its country of origin.
EuroCurrencyA currency that is outside the formal control of the issueing country's monetary authorities.
EuroDollarA dollar held in a bank outside the US.
EuroDollar Futures ContractA futures contract written on a Eurodollar receipt.
EuroDollar Interest RateThe interest rate on a eurodollar deposit
EuroMarketThe offshore international financial market
EuroNext??
EuroNoteShort-term security denominated in a Eurocurrency.
European OptionAn option that can only be exercised at the end of its life.
EWMAExponentially Weighted Moving Average
Exchange OptionAn option to exchange one asset for another
Exchange RateThe price at which one currency can be exchanged for another.
Exchange TradedA transaction where a specific instrument is bought or sold on a regulated exchange
Ex-Dividendsee XD-Dividend
Ex-Dividend DateWhen a dividend is declared, an ex-dividend date is specified.
Executive Stock OptionA stock option issued by a company on its own stock and given to its executives as part of their renumeration.
Exercise PriceThe price at which an option can be exercised (i.e. bought or sold).
Exotic OptionA non standard option
Exotics??
Expectations TheoryThe theory that forward interest rates equal expected future spot interest rates.
Expected Value of a VariableThe average value of the variable obtained by weighting the alternative values by their probabilities.
Expiry DateThe end of the life of the contract.
Exponential WeightingsA weightings scheme where the weight given to an observation depends on how recent it is.
Exponentially Weighted Moving Average ModelA model where exponential weighting is used to provide forecasts for a variable from histrical data.
Extendable BondA bond whose life can be extended at the option of the holder.
Extendable SwapA swap whose life can be extended at the option of one side to the contract.
Early Exercise
Exercising before the maturity date.
Earnings Yield
Earnings per share (after tax) expressed as a percentage of share price
EBITDA
Earnings Before Interest, Tax, Depreciation and Amortisation
ECGD
Export Credit Guarantee Department - government agency which provides trade insurance for exporters.
ECU
European Currency Unit - a weighted basket of currencies to give an "average" value especially against the dollar.
EDR
Euro Depositary Receipt
Efficient Market Theory
Theory that asset prices reflect currently available information and fully discount expected future cash flows.
EFTPOS
Electronic Funds Transfer at Point Of Sale - a scheme which allows customers to pay retailers with an electronic card. The funds are automatically debited from a client's account and credited to the retailer's.
Eligible Bill
Bills of Exchange eligible for sale to a central bank when acting as "lender of last resort".
Embedded Option
An option that is an inseparable part of another instrument
Empirical Research
Research based on historical market data.
EMS
European Monetary System - general agreement on monetary cooperation. Includes official use the Ecu.
EMU
European Monetary Union
Endowment Mortgage
Mortgage linked to a life-assurance scheme.
EPS
Earnings Per Share
Equity
General terms of shares.
Equity Collar
??
Equity Convertible
Bond which can be converted into the shares of the issuing company.
Equity Swap
A swap where the return on an equity portfolio is exchanged for either a fixed or a floating rate of interest.
ERM
Exchange Rate Mechanism
ETF
Exchange Traded Fund
Eurex
The merged German-Swiss electronic derivatives exchange.
EURIBOR
Rate at which banks in the eurozone borrow from one another.
Euro
The European single currency
EuroBond
A bond issued in the Euromarket. A bond sold in a market outside that of the domestic currency
EuroClear
Secondary market clearing and settlement system
EuroCurrencies
Any currency held by banks, companies or individuals outside its country of origin.
EuroCurrency
A currency that is outside the formal control of the issueing country's monetary authorities.
EuroDollar
A dollar held in a bank outside the US.
EuroDollar Futures Contract
A futures contract written on a Eurodollar receipt.
EuroDollar Interest Rate
The interest rate on a eurodollar deposit
EuroMarket
The offshore international financial market
EuroNext
??
EuroNote
Short-term security denominated in a Eurocurrency.
European Option
An option that can only be exercised at the end of its life.
EWMA
Exponentially Weighted Moving Average
Exchange Option
An option to exchange one asset for another
Exchange Rate
The price at which one currency can be exchanged for another.
Exchange Traded
A transaction where a specific instrument is bought or sold on a regulated exchange
Ex-Dividend
see XD-Dividend
Ex-Dividend Date
When a dividend is declared, an ex-dividend date is specified.
Executive Stock Option
A stock option issued by a company on its own stock and given to its executives as part of their renumeration.
Exercise Price
The price at which an option can be exercised (i.e. bought or sold).
Exotic Option
A non standard option
Exotics
??
Expectations Theory
The theory that forward interest rates equal expected future spot interest rates.
Expected Value of a Variable
The average value of the variable obtained by weighting the alternative values by their probabilities.
Expiry Date
The end of the life of the contract.
Exponential Weightings
A weightings scheme where the weight given to an observation depends on how recent it is.
Exponentially Weighted Moving Average Model
A model where exponential weighting is used to provide forecasts for a variable from histrical data.
Extendable Bond
A bond whose life can be extended at the option of the holder.
Extendable Swap
A swap whose life can be extended at the option of one side to the contract.

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