Trade-weighted exchange rate
Trade-weighted exchange rateThe weighted average of a country's bilateral exchange rates using bilateral trade -- exports plus imports -- as weights. Also called an effective exchange rate.
TSE 300 (Toronto Stock Exchange 100 index)TSE 300 (Toronto Stock Exchange 100 index)
Canadian form of a S&P 500.
London Commodity Exchange (LCE)London Commodity Exchange (LCE)
Merged with the London International Financial Futures and Options Exchange in 1996.
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.
Unequal exchangeUnequal exchange
Trade in which the labor used to produce a country's exports is more than the labor used to produce its imports, as in the exchange between low-wage developing countries and high-wage developed countries.
Korea Stock ExchangeKorea Stock Exchange
The major securities market of Korea.
Further SuggestionsRate of exchange
Stock Exchange Automated Quotation (SEAQ) International
Philadelphia Stock Exchange (PHLX)
Sydney Futures Exchange (SFE)
Freely floating exchange rate system
London Stock Exchange
Forward exchange rate
Securities Exchange of Thailand (SET)
Oslo Stock Exchange
Historical exchange rate
Chicago Mercantile Exchange
London Commodity Exchange
Regional stock exchanges
Jakarta Stock Exchange
New York Stock Exchange
Exchange Price Input Computer code
Amsterdam Exchange (AEX)
New York Futures Exchange (NYFE)
Tradepoint Investment Exchange
Helsinki Exchanges (HEX)
Foreign exchange market
Sao Paulo Stock Exchange
Caracas Stock Exchange