Glossary
- Early-stage financing
- eb.rexx indices
- ebB (Price Addendum)
- ebG (Price Addendum)
- EBIT
- EBITDA
- ECN (electronic communication network)
- Economic indicators
- Elasticity (warrants)
- Electronic exchange
- Elliot Waves
- EMA (Exponential Moving Average) 38
- Employee shares
- Entry Standard
- Equity fund
- ETF (exchange-traded fund)
- Euribor (European interbank offered rate)
- Euro
- European-style option
- Ex-day
- Exchange Operating Board
- Exchange rate
- Exchange Supervisory Office
- Exchange trader
- Exchange turnover
- Exercise (warrants)
- Exercise period (warrants)
- Exercise price
- Exercise ratio
- Exhaustion gap
- Existing share
- Exit
- Exotics
- Expiry
- Expiry date
Electronic exchange
An electronic exchange is a trading platform in which order entry and forwarding, matching of buy and sell orders, and price determination are performed by a computer. In most cases, the system also includes functions for clearing and settlement procedures, market supervision, and the publication of relevant information.
Unlike a trading floor, which requires the physical presence of participants, an electronic exchange can be accessed from any location. Trading can take place 24 hours a day, or during established hours. The advantages of an electronic exchange are low costs, error-free settlement, quick reaction times, flexible markets and access from anywhere in the world.
Germany has two electronic exchanges: Eurex® for derivatives, and Xetra® for the cash market. Participants in an electronic exchange must be admitted to electronic trading.
Deutsche Börse 
