Practice | company internship

share

Security representing a share in the capital of a public company. It guarantees the owner membership rights (voting rights and voting rights at the general meeting) and property rights (right to share in the profits, share in capital increases or in the liquidation result).

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stock Exchange

Regular market organized according to fixed customs. Depending on the goods traded, one speaks z. B. from securities, securities, foreign exchange, commodity exchanges or futures exchanges.

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ECB

Central Bank of EMU countries. It decides monetary policy. Monetary and exchange rate policy is implemented together with the national central banks (European System of Central Banks). The ECB’s key policy rate is the minimum bid rate for primary market operations.

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hedge funds

Investment vehicles typically housed in off-shore financial centers without strict supervision, such as the Bahamas or the Cayman Islands. This allows them to work with borrowed capital (cf. leverage) and derivatives. You can bet on both rising and falling stock prices. The hedge fund manager has typically invested a large part of his private assets in the fund and is primarily compensated by a performance fee.

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inflation

Price increase or currency depreciation. The change is indicated as the inflation rate. Often causes central banks to pursue a restrictive monetary policy (high key interest rates), which weighs on stocks and bonds. Opposite: disinflation, deflation.

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price-earnings ratio

Share price in relation to earned or expected earnings per. dividend-bearing share. The share valuation ratio indicates how many times earnings per share is included in the share price. P / E can be used to compare different stocks within an industry.

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key interest rates

Central bank interest rates to control the money supply with a signal effect on monetary policy, known as the Federal Funds Target Rate in the United States. The Swiss National Bank uses a target range for the three-month Libor rate.

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margin

1. The difference between a bank’s lending and debt interest rates (interest margin). 2. The difference between the offer price and the offer price of a security (bid-spread spread). Cash margin (initial margin, variation margin) in futures or CDF (security margin). 4. Earnings (usually operating) relative to sales (return on sales, RoS).

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primary market

Newly issued bonds are traded on the primary market from launch until they are listed on the stock exchange (secondary market). part of the capital market.

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Swiss stock exchange

Swiss market created in 1995 from the merger of Geneva, Basel and Zurich stock exchanges. Since August 1996, all securities have been traded electronically. The system is characterized by a full integration of the stock exchange processes right from stock exchange order to settlement. Merger with SIS and Telekurs to form SIX Group in early 2008.

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Board of Directors

Supervises and manages (through the definition of strategy) the management of a company for all shareholders. As a rule, according to Swiss law, the majority of the board members of an AG must have Swiss citizenship and be domiciled in Switzerland. The Board of Directors consists of executive (internal) and non-executive (external) members. As part of good corporate governance, the practice is becoming more and more established that a significant part of the board of directors must not have any business relationship with the company. The Board of Directors is elected by the general meeting.

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Takeover Board

Checks compliance with stock exchange rules for public takeover bids and specifically for mandatory bids. UeK communicates its recommendations to Finma.

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