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Exchange control |
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Exchange controlRationing of foreign exchange, typically used when the exchange rate is fixed and the central bank is unable or unwilling to enforce the rate by exchange-market intervention.Similar MatchesPPP exchange ratePPP exchange ratePurchasing power parity exchange rate Foreign exchange marketForeign exchange marketThe exchange market. Montreal Exchange or Bourse de MontrealMontreal Exchange or Bourse de MontrealThe oldest stock exchange in Canada trading stocks, bonds, futures, and options. The Canadian Market Portfolio Index (XXM) tracks the market performance of the 25 highest capitalized stocks traded on at least two Canadian exchanges. Exchange traded fundExchange traded fundETFs are a new kind of collective investment fund competing with investment trusts and unit trusts for investors' money.In some ways they are a conventional tracker fund, pooling the cash of a large number of investors and investing it in a basket of shares in companies that make up an index (e.g. members of the FTSE A All-Share).Like unit trusts, ETFs are open ended, which means that new units can be issued in response to demand. The advantage of this is that they trade at a price which is close to the net asset value of the fund (i.e. the value of its investments) - something that cannot be said of investment trusts which are closed funds.But unlike unit trusts, ETFs do not usually have initial charges and their annual management charges are much lower (averaging 0.35%). You will have to pay broking commission, but some ETFs are exempt from Stamp Duty.Another feature of ETFs is that their prices are updated continuously during the trading day to reflect the indexes they track. This is an improvement over unit trusts where prices are only recalculated every 24 hours. So if you buy shares in an ETF at 2 o'clock on Monday the price you pay will be directly related to the NAV at that time.ETFs pay a dividend to their shareholders, which is the sum of all the dividends received from the ETF's investments minus an annual management fee. Typical annual fees are under 0.5% of the fund's value.The UK's first ETF was launched by Barclays Global Investors in 2000 and took 80,000 trades in its first week. It can be held in both PEPs and ISAs and does not attract Stamp Duty.You can buy ETFs through most stockbrokers. Tokyo International Financial Futures ExchangeTokyo International Financial Futures ExchangeExchange that trades Euroyen futures and options, and futures on the one-year Euroyen, three-month eurodollar, and US dollar/Japanese yen currency. Further SuggestionsMalaysia Commodity ExchangeSydney Futures Exchange (SFE) Favorable exchange rate Swiss Exchange Exchange Traded Funds Istanbul Stock Exchange Trade-weighted exchange rate Shanghai Stock Exchange Pegged exchange rate Boston Exchange Automated Communication Order Routing Network (BEACON) Effective exchange rate Bombay Stock Exchange (BSE) Canadian Exchange Group (CEG) Hong Kong Futures Exchange (HKFE) Budapest Stock Exchange Direct Exchange Rate Oslo Stock Exchange Taiwan Stock Exchange (TSEC) bill of exchange Forward exchange transaction Stock exchanges Securities & Exchange Commission (SEC) London Metal Exchange (LME) Exchangeable instrument Exchange of stock |
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