Börsenordnung (Stock Exchange Rules and Regulations) Statutes of the stock exchange The Stock Exchange Rules and Regulations (Börsenordnung) are issued by the Exchange Council in agreement with the operating body…
Bodies of the stock exchange Committees that are directly responsible for performing the functions of the stock exchange As stipulated in the 1994 amendment to the German Stock Exchange Act,…
Bear market Market trend characterized by sustained price declines, usually in all market segments Investors in a bear market tend to have a pessimistic outlook. Their strategy is to acquire…
Balance-sheet analysis Analysis of individual items on the balance sheet with the goal of evaluating a company's economic situation Balance-sheet analysis can be subdivided into internal and external analysis. Internal…
American depositary receipt (ADR) A receipt issued by an American bank for foreign shares On NYSE and NASDAQ, investors trade ADRs instead of the shares they represent. American depositary share…
Admissions Office Stock exchange body in charge of admitting securities to the Official Market (Amtlicher Markt) Before a security is admitted to the Official Market, the Admissions Office examines the…
Admission to the exchange Prerequisite for a listing on the stock exchange At FWB® Frankfurter Wertpapierbörse (Frankfurt Stock Exchange) the Admissions Office is responsible for deciding whether to admit securities…
Admission of securities to the Regulated Market Decision of the Admissions Office of an exchange to admit a security to the Regulated Market In order to have a security admitted…
Acquisition currency Means of payment used in the takeover of a company This term is used primarily in connection with a merger that takes place between two listed companies via…
Liquidity and transaction costs: Two important criteria of market quality In the discussion about the relative advantages of securities markets, two factors are regularly the focus of attention: liquidity and…