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European Currency Unit (ECU) |
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European Currency Unit (ECU)An index of foreign exchange consisting of European currencies, originally devised in 1979. See also: Euro.European Currency Unit (ECU) Similar MatchesEuropean Monetary SystemEuropean Monetary SystemA currency union formed by some of the members of the EEC in 1979 that continued, with changing membership, until replaced by the EMU and the euro in 1999. European optionEuropean optionOption that may be exercised only at the expiration date. Related: American option. European termsEuropean termsA foreign exchange quotation that states the foreign currency price of one US dollar. European Monetary SystemEuropean Monetary SystemThe monetary system of the EC which attempts to reduce the currency variations between members. The EMS became operational on March 13th, 1979, as the successor to the 'snake in a tunnel'. Its aim was to create a zone of monetary stability in Europe. Its general principles were outlined at the Bremen Summit in July 1978, and the system was presented in detail at the Brussels Summit in December. The EMS consists of three mechanisms: the ERM; accounting and transaction mechanisms related to the ECU; and credit mechanisms to enable central banksı intervention in the currency markets. All the European Community countries belong to the EMS, although not all of them participate in the ERM. European Association of Securities Dealers Automated QuotationEuropean Association of Securities Dealers Automated QuotationEASDAQ was set up in 1996 as a pan-European stock market for technology and growth stocks. It now has about 60 companies listed with an average market capitalisation of £350m.UK investors can buy shares in companies listed on EASDAQ through a registered European broker. They are listed on the EASDAQ website - http://www.easdaq.com. Further SuggestionsEuropean Currency UnitEuropean Monetary Agreement New European Exchange (NEWEX) European Union (EU) European Free Trade Association European Recovery Program European Options Exchange (EOE) European Central Bank (ECB) European style exercise European Communities European Payments Union European Exercise Single European Act European style option European Economic Area European Economic Community Central and Eastern European countries European exchange rate mechanism (ERM) European Monetary System (EMS) European Community European, Australia, and Far East index (EAFE index) Single European Act European Association of Securities Dealers Automated Quotation (EASDAQ) |
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