Equity
The term used to describe a shareholder’s stake in a company.

Euroclear
The centralised system for the settlement of securities traded on the London Stock Exchange.

Eurotop 100
The top 100 companies across Europe (including UK)

Exchange Traded Funds (ETFs)
ETFs provide a way to invest in a specific market or sector without being exposed to individual companies. Each ETF invests in all of the companies in the given sector - for example a FTSE 100 ETF will have units in all of the FTSE 100 companies in the appropriate proportions. Dividends are payable on ETFs.

Ex-dividend
When a share is ex-dividend it means all registered shareholders on that date are entitled to the dividend the company is paying. When a share goes ex-dividend the share price will generally fall by the amount of the dividend to be paid. The same effect is true when a share is ex-rights, in that all registered shareholders on that date are entitled to participate in the rights issue.

Execution-Only
This is the most common service type and suits most people very well. It means that the stockbroker will carry out (i.e. ‘execute’) your instructions to buy or sell shares but they will not advise.