Business angel Private investor who supports a start-up company by providing capital and what is usually many years' management experience Business angels are typically former entrepreneurs. They support new companies…
Brokerage commission Fee paid by investors to cover the intermediation function performed by brokers When a security is bought or sold on the floor, the investor is required to pay…
Broker Brokers determine prices on the stock exchange. They also provide assistance in making investment decisions and execute their clients’ buy and sell orders. Their role thus corresponds to that…
Bridge capital In venture capital language, capital used to finance an IPO Investment banks and underwriting houses will help a company go public by providing bridge capital, which serves to…
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…