Our Glossary

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Large Cap Funds	Mutual funds, whose managers are focusing on companies with the biggest market capitalisation (over USD 5 billion).
Legal Risk	The risk of loss in the event of legal unenforceability of a contract.
Leverage	In most fixed-term transactions it is not necessary to deposit the total value of the underlying asset, but only a certain fraction (initial margin). A relatively small percentage change of the price of the underlying asset causes several times higher percentage change of the price of the particular derivative and thus of the investment made in the fixed-term transaction at its conclusion. With a relatively low initial investment, the investor can achieve substantial profit or even loss, the amount of which is determined by the type of the fixed-term contract (e.g. options or futures).
Limit (Order)	Determination of the maximum purchase or minimum selling price by the buyer or seller (especially for stock exchange orders).
Liquidity	The possibility of turning assets into cash. The higher the liquidity, the quicker you can turn the investment into cash.
Liquidity Risk	The risk of loss in case of low market liquidity. It is impossible to sell or buy the investment instrument at the selected moment in time, or the transaction can be implemented at the given moment in time only at a disadvantageous price (the purchase/sale spread is large).
Listing	Publication of the actual buying and selling prices of an investment instrument. The listing shows the highest currently offered price for purchase (bid) and the lowest currently offered price for sale (offer).
Long Position	The position of the investor (buyer), who believes that the value of the underlying asset will grow and, therefore, he has bought it.
Lot (Lot)	The minimum marketable amount of securities (other investment instruments) used in trading in a particular market (used, for example, at the Prague Stock Exchange in the SPAD segment).

INFORMATION FOR CORPORATE AND INSTITUTIONAL CLIENTS

Any information, material and services regarding financial instruments and securities provided by Erste Group Bank AG or any of its affiliates (collectively “Erste Group“) on this and any linked website hereafter (jointly the “Websites”) shall be exclusively to investors who are not subject to any legal sale or purchase restrictions (the “Interested Party“).

The publication and distribution of information as well as offering and selling of products and services described on the Websites is prohibited by law in some jurisdictions. For this reason, persons in countries in which the publication as well as the offering and selling of products and services described on the Websites are not permitted by law, must not enter the Websites and/or acquire the products displayed on the Websites.

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The Interested Party is solely responsible to examine, whether he may enter the Websites under the law applicable to it. Erste Group shall not be responsible for the distribution of content of any of the Websites to individuals or entities which provide false information about their right to enter the Websites. For this reason Erste Group shall not be liable for any legal claims or damages which may result from the unauthorized entering or reading of the Websites.

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(ii) It informed itself about any possible legal restriction and warrants that it is not restricted or prohibited to enter the Websites according to any law applicable; and
(iii) It does not make available the contents of the Websites to any person who is not qualified by law to enter the Websites.
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