Pegged exchange rate
Pegged exchange rateA regime in which the government or central bank announces an official (par value) of its currency and then maintains the actual market rate within a narrow band above and below that by means of exchange market intervention.
Foreign exchange marketForeign exchange market
The exchange market.
Osaka Securities Exchange (OSE)Osaka Securities Exchange (OSE)
Established after World War II, one of the three major securities markets in Japan.
Exchange traded fundExchange traded fund
ETFs 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.
Coffee, Sugar & Cocoa Exchange (CS&CE)Coffee, Sugar & Cocoa Exchange (CS&CE)
The New York-based commodity exchange trading futures and options. The CS&CE shares the trading floor at the Commodities Exchange Center.
New York Mercantile ExchangeNew York Mercantile Exchange
Following the merger with the Commodity Exchange (COMEX) in 1994, the exchange operates two divisions that is, NYMEX which deals in futures and options on a number of products including crude oil, heating oil and platinum and COMEX which deals in futures and options on copper, gold and silver.
Further SuggestionsShanghai Stock Exchange
American Stock Exchange
Kuala Lumpur Options and Financial Futures Exchange (KLOFFE)
Effective exchange rate
Indirect Exchange Rate
Favorable exchange rate
Oslo Stock Exchange
Foreign exchange swap
Jakarta Stock Exchange
organised securities exchange
Floating exchange rate system
London Metal Exchange
Vancouver Stock Exchange (VSE)
Hong Kong Futures Exchange (HKFE)
Currency Exchange Risk
Boston Exchange Automated Communication Order Routing Network (BEACON)
New Zealand Stock Exchange
Surveillance department of exchanges
Exchange Rate Mechanism