Glossary
- L/E-DAX
- Laspeyres index
- Last price
- Late indices
- Lead brokers
- Lead manager
- Legal Entity Identifier
- Leverage (Warrant)
- Liability for statement made in a propectus (Prospekthaftung)
- Limit
- Limit order
- Line chart
- Liquidity
- Liquidity Category
- Liquidity Classes
- List price
- Listing
- Load (XTF)
- Loan value
- Lockup period
- Lokomarket
- Lombard rate
- Long position
- Low
Leverage (Warrant)
The current price of the underlying instrument divided by the price of a warrant related to the underlying instrument.
The leverage is meant to express how much more strongly the value of an investment in a warrant theoretically rises (falls) than if the same sum was invested in the underlying instrument, if the price of the underlying instrument rises (falls) by one unit. This simple leverage calculation is based on the erroneous assumption that the price of the warrant and the underlying instrument change by the same absolute amount. Therefore, the refined leverage is calculated by multiplying the leverage by the delta. The result is often termed elasticity or leverage.
Our glossary explains important financial terms and should not leave any questions unanswered. However, if you are missing a definition, please write to us at redaktion@deutsche-boerse.com. We will then include the term if possible.
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