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Glossary

We have compiled a comprehensive A-Z glossary of share dealing and investment terms.

E

Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)
EBITDA is created by considering a company's earnings before interest payments, tax, depreciation, and amortization are subtracted for any final accounting of its income and expenses. The EBITDA of a company gives an indication of the current operational profitability of the business.

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 service provides you with direct access to UK and overseas equity markets and various asset classes. You can talk to a qualified stockbroker before executing a trade, but any investment decisions will be your own.

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