A receipt or certificate issued by a US bank that represents a specific number of shares of foreign-based corporations held by a US banking institution in the country of origin on behalf of an investor in the US.
American option
An option which may be exercised at any time prior to expiration.
Amtlicher Handel
The official trade section of German stock exchanges.
Analyst
A person with expertise in evaluating financial investments. An analyst performs investment research and makes recommendations to institutional and retail investors to buy, sell, or hold. Most analysts specialize in a single industry or sector.
Annex I countries
Developed countries who, under the Kyoto Protocol, have accepted greenhouse gas emission reduction obligations and must submit an annual greenhouse gas inventory.
Arbitrage
The simultaneous purchase on one exchange and sale on another of the same or equivalent financial instruments in order to benefit from price or currency differentials.
Arbitrageurs
Those looking for arbitrage opportunities.
Asian option
Asian options are based on an average price of a commodity over a period of time, rather than on a single price taken at the end of a period. Asian options are currently available only OTC.
Ask price
The price at which a seller has offered to sell a security or commodity.
Association Française des Sociétés de Bourse
A professional association which advises members of the French stock exchanges and represents them to outside bodies.
