Glossary Of Trading

Earnings Per Share (EPS)

A company's total earnings (income minus expenditures) divided by the number of outstanding shares. Companies calculate their quarterly earnings based on the value of their total shares to gauge net value, i.e. the earnings on a share as compared to the share's market value (P/E ratio).

Economic Indicator

Economic and financial news data and announcements that are usually released by government agencies or well-established research foundations. They refer to – among others – inflation, interest rates, GDP, economic indexes (sentiment, consumption, production….) etc.

Effet de levier

Investissement fourni par un courtier ou un autre prestataire parallèlement à l'investissement d'un trader. Cet investissement permet au trader de placer une position d'une valeur supérieure à celle que son investissement principal lui permettrait autrement. L'effet de levier est le rapport entre le capital (marge) du trader/investisseur et l'investissement du courtier.

Electronic Communications Network (ECN)

A network that directly connects brokers and traders, enabling direct dealing. The first such network was Instinet, employed by Nasdaq in 1969.

Entry rate

The value of an asset when a trade is opened, based on the real-time market price.

European Central Bank (ECB)

The European Union’s central monetary agency, which determines monetary policy and aims at maintaining economic stability. The bank is owned by the European Union’s member-state central banks and is located in Frankfurt. It was established in 1998 as part of the Maastricht Treaty.

European Securities and Markets Authority (ESMA)

The European Union’s regulatory and supervisory agency for financial markets.


Balance commerciale qui est positive du fait que les revenus (exportations au niveau national) sont supérieurs aux coûts (importations au niveau national).

Exchange Rate

The rate for buying one currency using another.

Exotic (forex pairs)

Traded currency pairs in which no major currency is used.

Exotique (paires de devises)

Représente des paires de devises dans lesquelles aucune devise principale (majeure) n'est utilisée.

Expert Advisor (EA)

A small programme (a multi-usable script) that enables automated trading based on technical indicator outputs.

Expert Advisor (EA)

Petit programme (script multi-usage) qui permet de réaliser un trading automatisé basé sur les donnés d'indicateurs techniques.

Expiry rate

The market value of an asset when an option to buy or sell it expires.

Expiry time

The pre-determined date and time an option or futures contract expires.