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GLOSSARY

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Term Definition
In-the-money

Call (put) option or warrant with an exercise price below (above) the current market price of the underlying asset. See also At-the-money and Out-of-the-money.

Author: Australian Securities Exchange
Index
Statistical measure designed to show the change of one or more related variables in time. Stock indices measure the performance of a selection of stocks representing a portion of the overall market. The components can be weighted acording various criteria (e.g. Market Capitalisation, Free-Float Market Capitalisation, price-weighted...) and the indices can be calculated as price indices or on a "total return basis" to include the reinvestment of dividends paid. Stock Indices are often used as benchmarks for actively and passively managed investment funds and as underlyings for derivative products.
Author: WFE
Initial Public Offering (IPO)

The first time a company makes its shares available for sale to the public.

Author: NYSE & Euronext
Interest Rate

The price paid by a borrower for the use of money he has borrowed from a lender. The lender can be a public or private financial or non-financial company or a public administration. Interest rates are the most frequently used underlyings for derivatives.

Author: WFE
Intrinsic value

The price paid by a borrower for the use of money he has borrowed from a lender. The lender can be a public or private financial or non-financial company or a public administration. Interest rates are the most frequently used underlyings for derivatives.

Author: Australian Securities Exchange
ISIN

International Securities Identification Number (ISIN). International code for a listed security.

Author: London Stock Exchange
Issuer

An issuer is an organization which issued securities listed on an exchange. In WFE statistics issuers are broken down into domestic private, public, and foreign entities.

Author: WFE