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South African Futures Exchange (SAFEX) |
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South African Futures Exchange (SAFEX)Electronic futures and options exchange based in South Africa.South African Futures Exchange (SAFEX) Similar MatchesInternational Petroleum Exchange (IPE)International Petroleum Exchange (IPE)Energy futures and options exchange based in London. 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. Vancouver Stock Exchange (VSE)Vancouver Stock Exchange (VSE)A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. New York Futures Exchange (NYFE)New York Futures Exchange (NYFE)A wholly owned subsidiary of the NYSE that NYSE NYSE and futures NYSE on the NYSE composite index. Tradepoint Investment ExchangeTradepoint Investment ExchangeA London-based stock exchange which opened on 21st September 1995 and which currently deals in 900 of the most actively traded UK equities.Tradepoint is an electronic order driven market accessible via a standard IBM PC where brokers, market makers and investing institutions participate on an anonymous basis and enter buy or sell orders. For the most liquid stocks, trades are completed the moment a corresponding buy or sell order is entered by another participant. Less liquid stocks are traded by way of computer matching following the accumulation of orders after periods of time.Trades are guaranteed by the London Clearing House (LCH) and settlement is via Crest. Tradepoint is a Recognised Investment Exchange (RIE) and is regulated by the Financial Services Authority (FSA). Further SuggestionsExchange Rate Mechanism (ERM)Caracas Stock Exchange Exchange Delivery Settlement Price London International Financial Futures and Options Exchange Currency Exchange Risk Floating exchange rate share exchange PPP exchange rate Exchange market Exchange, The New York Cotton Exchange (NYCE) Exchange of assets Nominal exchange rate Warsaw Stock Exchange Organized exchange Pacific Stock Exchange Korea Stock Exchange New Zealand Stock Exchange Stock Exchange of Thailand Real exchange rates Pegged exchange rate London Stock Exchange Exchange Rate Mechanism Bombay Stock Exchange (BSE) Securities and Exchange Commission |
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