Education

A
Accrual
The allotting of premiums and bonuses on forward exchange transactions that are directly related to deposit swap orders, over the session of every deal.
Adjustment
This is an authorized activity usually warranted by an alteration in the internal economic procedure to fix a payment imbalance or in the sanctioned forex rate.
Aggressive
Investors and or price are behaving with conviction.
Analyst
A financial expert who is experienced in assessing investments and lays down buy, sell, close and hold advice for clients.
Appreciation
A financial instrument is said to appreciate when it steps up in price in view of the prevailing demand in the market.
Arbitrage
The concurrent buying or selling of a financial asset in a view to make profit of marginal price differentials between.
Asian central banks
This is the apex banks in Asia or the region’s monetary bodies. They have continued to enhance their activities in the major currencies and as such aided in their rapid control of the pools of forex reserves emanating from trade excesses.
Asian session
23:00 – 08:00 (Tokyo).
Ask (offer) price
The charge at which an asset will sell in the market and can be quoted in two-ways, namely:
Bid/Ask. The Offer can also be used in place of the Ask price.
In the forex market, the Ask depicts the price an investor is willing to buy the base currency, which is place on the left in a forex pair. If we have a quote EUR/USD 1.3066/68, the base currency here is the Euro, and the Ask price is 1.3068, which implies that one can buy one Euro for 1.3068 United States dollars.
AUS 200
The AUS 200 is what investors call the index of the top 200 firms by market Cap on the Australian Stock Exchange.
At best
This is the order passed on to a dealer to buy or sell at the most suitable rate that can be gotten.
Aussie
A term used to describe the AUD/USD pair, it can also be referred to as the ‘Oz’ or ‘Ozzie’.

B
Balance of trade
This is the value of a country’s imports taken away from exports.
Bar chart
This is a chart type that is made up of four important points: the high and low prices, which constitutes the vertical bar, the opening and closing price, which form a little horizontal line to the left and a little horizontal line to the right of the bar respectively.
Base currency
The Base currency is the first currency in a forex pair. It depicts how much the base currency is worth when compared to the second currency in the pair. For instance, the EUR/USD rate is 1.3066, this suggest that one Euro is equal 1.3066 USD.
Base rate
A given country’s lending rate as prescribed by its apex bank.
Basing
A procedure employed in technical analysis, that involves displaying a chart pattern that shows a period when demand and supply of a product are almost the same. This pattern is characterized by a narrow trading range and the fusing of the levels of support and resistance.
Basis point
Measurement unit employed in defining the minimum alteration in the price of an asset.
Bearish / Bear market
This is indicative of a negative price action. For instance, if we go bearish on the EUR/USD pair, this is a bet on Euro weakness as compared to the US dollar.
Bears
Bears are investors who anticipate declining prices and may also be taking sell orders in the market.
Bid price
The price the market finds suitable when buying a product.
Bid/ask spread
The difference between the Bid and Ask prices.
Big figure
These are the first three digits of a forex quote, such as the 1.30 in the EUR/USD. If we say price has moved by 1.2 big figures, it actually means price has moved 120 pips.
BIS
This is an acronym for the Bank for International Settlement situated in Basel, Switzerland, and it is the apex bank for apex banks. The Bank for International Settlement usually acts as a middleman in the market, connecting the apex banks and the market. The BIS has gained more prominence in the market as apex banks have increased their currency reserve management.
Black box
These are words used in defining systemic, model-based or technical traders..
BOC
An acronym for the Bank of Canada, the apex bank in Canada.
BOE
The apex bank of the UK, i.e. Bank of England.
BOE
The apex bank of the UK, i.e. Bank of England.
BOJ
Bank of Japan, Japan’s apex bank.
Bond
This is what traders call debt that is issued over a specified period of time.
Book
In the financial world, a ‘book’ is a complete overview of an investor’s or desk’s entire positions.
British Retail Consortium (BRC) shop price index
A fundamental tool that measures British inflation rate based on varying surveyed retailers. The index singles out price changes in the number of goods purchased from retail outlets.
Broker
A person or firm that plays middleman, with the sole responsibility of bringing buyers and sellers together for a commission. In comparison, a ‘dealer’ invests cash and takes one side of a position, hoping to make cash off spread by exiting the position in an ensuing trade with another body.
Buck
Slang in the market that connotes a million units of US dollar.
Bullish / Bull market
This is a rising market that’s characterized by rising prices. For instance, a bullish EUR/USD signifies a strengthening Euro against the US dollar.
Bulls
These are investors who anticipate rising prices and may also hold long positions.
Bundesbank
German’s apex bank.
Buy
Holding a long position on an asset.
Buy dips
This is when a trader holds a buy position of 20 – 30 pip pullbacks in the direction of an intra-day trend.

C
Cable
This is a slang that is used in describing the GBP/USD pair. The term dates back in the mid-1800 when rates were conveyed through transatlantic cable.
Candlestick Chart
A pictorial representation that depicts trading ranges for various timeframes, along with open and close price. If the close price is lower than the open price, the rectangle is filled. If on the other hand the close price is higher than the open price, the rectangle is not filled.
Capital Markets
A market that is built for medium – to long – investments, like Eurobonds and United States government bonds.
Central Bank
This is a government or organizational body that controls a regions monetary policy. For instance, in the United States, we have the Federal Reserve, the Eurozone has the ECB, BOE is for the United Kingdom.
Chartist
This is a person who is able to make meaning off historical data in a bid to determine trends, forecast future price actions and employ them in technical analysis.
Clearing
A means of settling a trade.
Commission
A commission on a transaction, that’s charged by the broker.
Confirmation
A paper that participants exchange during a transaction confirming the terms of the stated transaction.
Contagion
The possibility that an economic crisis could diffuse within markets. For instance, Asia witnessed a contagion in 1997 when Thailand’s high volatility in its local currency spread across the region and other emerging East Asian currencies were affected. It even got as far as Latin America.
Contract (Unit or Lot)
This is the basic unit employed in trading on set exchanges.
Convertible Currency
A currency with the potential of free exchange amongst other currencies at rates offered by the market, or gold.
Cost of Carry
This is simply the charge linked with obtaining money in a bid to manage a position. This is dependent on interest parity, which defines the forward price.
Counter party
The counter party in any given transaction is the opposite party. For instance, the buyer is a counter party to the seller or vis-à-vis.
Country Risk
Excluding intervention from the country’s apex bank, this is the risk a forex trader faces in view of a possible government intervention in the market. This can be as a result of war or civil unrest.
Credit Checking
This is a routine validation carried put to ascertain if both parties have the credit to cover for the trade they wish to initiate.
Cross Rates
The forex rate between two currencies. We refer to this as non-standard in the region or country where the forex pair is quotes.
Currency
This is a country’s legal exchange unit that is issued by the apex bank or the government, with its value forming the basis for trade.
Currency Risk
The danger of drawing loss as a result of severe change in exchange rates.

D
Day trader
This is a speculator who initiates positions in commodities/forex and then exits these positions just before the close of the very trading day.
Day trading
Involves initiating and exit trades within one day.
Deal
A deal defines trade carried out at the most recent market price. It is a trade that is live in the market against an order.
Dealer
A person or firm that fronts as a lead or counterpart to a transaction. Usually, leads assume one side of a position, with the hope of making a spread (gains) by exiting the position in an ensuing trade with another party.
Dealing spread
It defines the difference between the buying and selling price in a prevailing contract.
Defend a level
Move carried out by an investor, or group of investors, to avoid an asset from trading at a certain price or price range, normally as a result of the particular interest they hold, as seen in barrier option.
Deficit
This is a minus trade balance of payments.
Delisting
Taking off a stock’s listing on an exchange.
Delivery
This is the actual delivery of asset traded by both sides.
Delta
The ration between a product’s price alteration and the price alteration of its underlying market.
Depreciation
An asset decreases in value over a period.
Derivative
A financial agreement whose worth is dependent on the asset’s underlying value. Some of the most popular underlying assets for derivative contracts include currencies, commodities, equities and indices.
Devaluation
When a fixed currency is made to weaken, or depreciate in accordance to official deeds: the direct opposite of revaluation.
Discount rate
This is interest rate that a qualified depository body is commissioned to obtain short term funds straight from the Federal Reserve Bank.
Divergence
This is a technical analysis term that describes a situation in which price and momentum go in opposite directions. Traders consider divergence as either positive (bullish) or negative (bearish), with both kinds alerting big moves in price movement. We experience bullish/positive divergence when the price of a security delivers a fresh low while the momentum indicator signals an upward push. The bearish/negative divergence occurs when a security’s price delivers a fresh high, while the momentum indicator signals a downward push.
Divergence of MAs
A technical examination that depicts moving averages of varying timeframes going away from each other, which basically predicts price trend.
Dividend
The earnings of a firm that’s shared to its shareholders.
DJIA or Dow
An acronym for the Dow Jones Industrial Average or US30.
Dove
This term is used in describing monetary policy that is easing or simply the lowering of interest rates. It is the direct opposite of hawkish.
Downtrend
This is price movement that is made up of lower-lows as well as lower-highs.
DXY$Y
An acronym for the US Dollar Index.

E
ECB
Stands for the European Central Bank, the apex bank for countries using the Euro currency.
Economic indicator
A statistic issued by government that describes the most recent economic stability and growth. Some of the indicators are employment rates, retail sales figures, inflation numbers, Gross Domestic Product (GDP), etc.
End of day order (EOD)
An order to purchase or sell at a defined price that stays open until the trading day’s end, which is at 5pm/17:00 New York.
EST/EDT
This is an acronym for United States Eastern Standard Time/Eastern Daylight time, which is the time zone for New York City.
ESTX50
An acronym for Euronext 50 Index.
EURO
Eurozone’s currency.
European Monetary Union (EMU)
This is an encompassing name for a league of policies that is geared towards organizing economic and fiscal policies across EU Member States.
European session
07:00 – 16:00 (London).
Eurozone labor cost index
This gauges the annualized rate of inflation in the reparation and profits paid to secular workers and is seen as a main propeller of overall inflation.
Expiry date / price
This is the exact date and time an option is billed to expire. There are two very important options expiry time, which is at 10:00am ET (also known as 10:00 NY time or NY cut) and 3:00pm Tokyo time (also known as 15:00 Tokyo time or Tokyo cut). The market experiences a spike in activity during these time periods.
Exporters
Firms that sells goods internationally, turning them into sellers of foreign currency and buyers of domestic currency. Firms like Sony, Samsung and Toyota, fit into this category.
Extended
Situation in which it the market is believed to have surged too far, too fast.

F
Federal Deposit Insurance Corporation (FDIC)
The regulatory agency that owns the right to administer bank depository insurance in the United States.
Federal Reserve (Fed)
The apex bank in the United States.
Fixed Exchange Rate
An approved exchange rate fix by financial authorities for a currency or more.
Fixed Interest
An unchanged interest rate during the term of the deal, as regards bonds or fixed-rate mortgages.
Flat (or Square)
A condition where one is neither short nor long.
Floating Rate Interest
An interest rate that changes in accordance to the market or benchmark rates, as seen in standard mortgage.
Foreign Exchange (or Forex or FX)
The concurrent buying of a currency and selling of another in the currency market.
FOREX
This usually means Foreign Exchange, where ‘FOR’ stands for foreign and ‘EX’ stands for exchange.
Forex Trader
An individual or a firm that deals in the buying and selling of currencies, in a bid to make gains.
Forward
A deal that will kick off at a harmonized date in the future. Forward trading is quite flexible and can be arranged in line with the requirements of the two parties. It sure does not have a centralized exchange.
Forward Points
This is the number of pips subtracted from or added to the most recent forex rate to compute a forward price.
Front Office
Personnel in charge of sales and corporate finance at a financial body.
Futures
A trading style designed for financial instruments, forex or commodities for a specified price at a specified date in the future. Futures can be employed in speculating and safeguarding against an underlying assets future price.

G
G7
This is the group of seven nations, comprising of The United States, Germany, France, Canada, United Kingdom and Italy.
G8
This is the group of eight nations. They comprise of the G7 plus Russia.
Gap / Gapping
A fast market action in which prices leaps a couple of levels without trades arising. Gaps are seen in the market after major economic data or news announcements.
GER30
This is an index of 30 top firms (in line with their market capitalization) as listed in the German Stock Exchange.
Given
This depicts selling interest.
GMT
Greenwich Mean Time – This is the most familiar time zone in the currency market.
Going long
A market term that entails the purchase of currencies, stocks or commodities for the purpose of investment or speculation – with an expectation of price spikes.
Going short
A market term that entails the selling of currencies, stocks or commodities for the purpose of investment or speculation – with an expectation of price dips.
Gold (Gold’s relationship)
Gold is a commonly traded commodity and it is commonly accepted that its price moves in opposite to the price direction of the US dollar.
Good for day
This is an order that will expire at the day’s end if not filled
Good ’til cancelled order (GTC)
An instruction to buy or sell at a defined price that stays open until entered or until the customer deletes it.
Good ‘til date
An order type that is billed to expire on a chosen date, in case it is not entered beforehand.
Greenback
Another name for the United States Dollar.
Gross domestic product (GDP)
This is the entire worth of a country’s output, income or expenditure created within its physical actual borders.
Gross national product
This is the GDP added to income gotten from investment or work overseas.
Guaranteed order
This is an order type that safeguards the investor from market gapping. It a stop-loss order that promises to exit your position at the level you decide, in case the market to the point or beyond it.

H
Handle
Each 100 pips in the currency market starting with 000.
Hawk – hawkish
A monetary policy is said to be hawkish when it favors higher interest rates, in a bid to manage inflation or curb rapid economic growth.
Hedge
It is a position or set of positions that minimizes the danger of your main position.
Hit the bid
The process of selling at the current market bid.
HK40 / HKHI
It is a symbol used for describing the Hong Kong Hang Seng Index.

I
Illiquid
A condition in the market that is represented by little volume or lack of liquidity, often creating choppiness.
IMM
An acronym for International Monetary Market: a part of the Chicago Mercantile Exchange.
INDU
INDU is a short form for the Dow Jones Industrial Average.
Industrial Production
This is an economic indicator that measures the complete value of output yielded by mines, manufacturers and utilities. This data has the ability of acting swiftly to the expansions and contractions of the business cycle and can stand as a leading indicator of individual income data and employment.
Inflation
This is an economic syndrome that’s characterized by rising prices of consumer goods, whilst wearing down purchasing power.
Initial margin requirement
The incipient deposit of collateral that’s needed to initiate an order.
IPO
This is short for Initial Public Offer – a private firm’s initial stock offerings to the public.
Interbank rates
These are large forex rates that are quoted between large international banks.
Interest
This is cash adjustment to show the effect of owing or getting the notional amount of equity of a CFD position.
Intervention
The apex bank’s action to affect the currency value when it enters the market.
Introducing broker
An individual l or corporate firm which presents an account o broker for a commission.
INX
A symbol representing the S&P 500 Index.
ISM manufacturing index
An economic indicator that measures the state of the US manufacturing sector by scanning executives on forecast for future production, inventories, employment, new orders and deliveries. ISM figures above 50 depict expansion, while figures below 50 show contraction.
ISM non-manufacturing
An economic indicator that measures the services sector for their outlook, defining the remaining 80% of the American economy not detailed by the ISM Manufacturing Report. Generally, figures above 50 depicts an expansion, while those below 50 show contraction.

J
Japanese economy watchers survey
An economic indicator that measures business mood that serves consumers directly and they include waiters, drivers, and beauticians. Readings that are above 50, show an improvement in the sentiment.
Japanese machine tool orders
An economic indicator that measures the entire value of new orders placed with machine tool manufacturers. This is a measure of the demand for firms that manufacture machines, a leading indicator of industrial production going forward. A good data is a signal that there’s improvement in the manufacturing sector and also economic expansion.
JPN225
A short form for the NIKKEI Index.

K
Keep the powder dry
Limiting your trades as a result of inclement trading conditions in the market. It is suitable to stay on the sideline until conditions are favorable, when the market is choppy or in an extremely narrow range.
Kiwi
Another name for the NZD/USD.
Knock-ins
An options strategy that demands the underlying asset to trade at a particular price before option previously bought becomes active. Knock-ins are employed to minimize the cost of premiums of the underlying option and can trigger hedging activities on activating an option.
Knock-outs
These are the options that cancel an option that was previously bought if the underlying product trades a particular level. The underlying option ceases to exist upon trading a knock-out level and any hedging present may have to be unwound.

L
LIBOR
This is short form for “London Interbank Offer Rate,” which represents the interest rate that the biggest international banks will lend among themselves.
LIFFE
This is short form for “London International Financial Futures Exchange,” which comprises three of the largest UK futures markets.
Limit Order
This is an order requesting to buy at or below a specified price, or sell at or above a specified price.
Liquid Markets
A market is said to be liquid if the spread between the bid and offer is small.
Another measure of liquidity is the volume of buyers and sellers, with more players creating tighter spreads.
Liquid Assets
These are assets that can be changed into cash. For instance: bank deposits, US Treasury Bills, etc.
Liquidation
Closing a position that’s open by initiating an offsetting transaction.
Long
A market position characterized by buying an increasing worth of an asset than that being sold in anticipation of rising prices.

M
Macro
This is the longest-term investor that hinges his trade on fundamental data. A ‘macro’ trade can have its position holding period last from around 6-months to a couple of years.
Manufacturing production
An economic indicator that measures the entire output of the manufacturing component of the Industrial Production figures. The data has the capacity to measure around 13 sub sectors that directly relates to manufacturing – which makes up around 80% of the entire Industrial Production.
Margin
The necessary collateral needed for an investor to deposit to allow them hold a position.
Margin call
A call from a dealer or broker requesting more funds or other collateral that will enable a position stay afloat whilst it has gone against the trader.
Market capitalization
This is the complete value of a listed firm.
Market maker
This is a dealer that continually quotes in two ways (bid and ask) and is prepared to make a two-sided market on any financial asset.
Market order
A directive to buy or sell at the prevailing price.
Market risk
Dangers associated to changes in market prices.
Mark-to-market
This involves the re-assessment of all open positions in view of current market prices. Such values then define the margin requirements.
Maturity
The settlement date or expiry date of a financial asset.
Medley report
The Medley report is issued by the Medley Global Advisors, a renowned market consultant that manages close contacts with apex banks and government bodies across the globe. Their reports have the tendency of moving the currency markets, due to their ability to get insider information from policy makers. The market gives attention to this report in the short term, amidst its fluctuating accuracy over time.
MoM
This is an abbreviation for month over month, which signals the change in a data series when compared to the previous month’s gauge.
Momentum
A set of technical indicators that measures the rate of price change, for instance, RSI, MACD, Stochastic, etc.
Momentum players
Investors that position themselves to take 50-100 pips in the market, using intra-day trends.

N
NAS100
An acronym for the NASDAQ 100 index.
Net position
This is the volume of currency bought or sold which has not yet been equalized by opposite transactions.
New York session
8:00am – 5:00pm (New York time).
NYA.X
An acronym for the NYSE Composite Index.
Market capitalization
This is the complete value of a listed firm.
Market maker
This is a dealer that continually quotes in two ways (bid and ask) and is prepared to make a two-sided market on any financial asset.
Market order
A directive to buy or sell at the prevailing price.
Market risk
Dangers associated to changes in market prices.
Mark-to-market
This involves the re-assessment of all open positions in view of current market prices. Such values then define the margin requirements.
Maturity
The settlement date or expiry date of a financial asset.
Medley report
The Medley report is issued by the Medley Global Advisors, a renowned market consultant that manages close contacts with apex banks and government bodies across the globe. Their reports have the tendency of moving the currency markets, due to their ability to get insider information from policy makers. The market gives attention to this report in the short term, amidst its fluctuating accuracy over time.
MoM
This is an abbreviation for month over month, which signals the change in a data series when compared to the previous month’s gauge.
Momentum
A set of technical indicators that measures the rate of price change, for instance, RSI, MACD, Stochastic, etc.
Momentum players
Investors that position themselves to take 50-100 pips in the market, using intra-day trends.

O
Offer (also known as the Ask price)
The price at which the market is ready to sell an asset and are usually seen as quoted in two-ways; Bid/Offer. The Offer is also known as Ask.
Offered
When we refer to a market as trading ‘offered’, this signifies that a forex pair is drawing big huge selling interest, or offers.
Offsetting transaction
A position that cancels or offsets some or all of the risk associated with open orders in the market.
On top
Making effort to sell at the most recent market order price.
One cancels the other order (OCO)
The process of having two order whereby executing one of the orders, will mean an automatic cancelling of the other.
One touch
Paying a fixed amount to an option holder when the market touches the predefined Barrier Level.
Open order
An order that will be initiated when the market takes a turn to a specified price. The open order is usually linked to Good ‘till Cancelled Orders.
Open position
A live trade with corresponding unaccounted profit and loss which has not been covered by an equal and opposite order.
Order
An instruction to initiate a trade.
Over the counter (OTC)
His is employed in depicting any transaction that is not carried out via an exchange.
Overnight position
A position that stays open until the next business day.

P
Paid
This depicts the offer side of dealings in the market.
Pair
The standard forex quoting convention that matches a currency versus the other.
Paneled
A huge round of selling.
Parabolic
The movement of the market over a huge distance within a short span, normally moving in an accelerating manner that looks like one half of a parabola, with such moves either in upward or downward direction.
Partial fill
The execution of only a part of an order.
Patient
Lining up for certain levels, or news event to strike the market before initiating an order.
Personal income
A measure of an individual’s total yearly gross earnings gotten from wages, business enterprises and other investments. Personal income has a direct like to personal spending, which amounts to around 2.3% of the GDP of advanced economies.
Pips
The minutest unit of price for any given currency is called pips.
Political risk
Opening up to fluctuating policies by government, which may have a negative effect on trader’s positions.
Portfolio
An investment collection that an entity owns.
Position
An assets total net holdings.
Premium
The number by which the price of futures or forward exceeds the spot price.
Price transparency
Explains quotes to which market participants has unparallel access.
Profit
The selling price minus the cost price, knowing that the selling price is higher than the cost price.
Pullback
The ability of a trending market to take back some art of the gains before going in the same direction.
Purchasing managers index (PMI)
This is an economic indicator that describes manufacturing firm’s performance within a country.

Q
Quote
Price shown in the market employed for information purposes alone.
Quantitative easing
This is a process that entails injecting cash into an economy by the apex bank, with the goal of stimulating growth.
Quarterly CFDs
A future type with quarterly expiry dates.

R
Rate
The price of a currency in relation to another.
Re-purchase (or Repo)
Selling an instrument just to have it re-purchased at a given time and date.
Realized Profit/Loss
The resultant profit or loss from shares being sold.
Resistance
A widely used term in technical analysis to describe price level beyond which a currency is unable to pass. This pattern can be shaped into a straight line, when over time price fails to move beyond the point of resistance.
Risk
Exposure to unpredictable change.
Risk Capital
The amount of cash that an investor can afford to put in, even when lost, will not hamper his/her lifestyle.
Risk Management
Employing financial analysis along with trading techniques to hedge risk
Rollover
Variation in interest rate between two currencies during deal settlement that is rolled forward to another date.

S
Settlement
The process of finalizing a transaction.
Short Position
An investment order that originates from short selling.
Short Selling
Selling an asset without actually owning it in anticipation that there will be a decline in price, so that it can be bought back for future gains.
Spot
An instant transaction that depicts funds changing hands within two days after striking the deal.
Spot Price
The prevailing market price.
Spread
This is the difference between the bid and ask prices, and can be used in gauging the liquidity in the market. When we get narrow spreads, they are a signal for high liquidity.
Sterling
Another used to describe the Great Britain Pound.
Stop Order
An agreeable price in which an order can be bought or sold.
Support Levels
A technical analysis studies that describes a specified price point below which a currency is unable to go pass. Successive failure for price to go beyond that level will yield a pattern that can be shown using an approximate straight line.
Swap
The temporal holding of an asset, which is then exchanged after a specified time span. To compute swap, derive the interest rate differential between both currencies. Such values can be employed in speculative purposes in a bid to forecast interest rates movements.

T
Technical Analysis
A form of market analysis that attempts to predict future price actions by analyzing market data like charts, volume and trends.
Tick
Minutest price action.
Ticker
An instrument that is able to display historical and/or recent currency data in graph or table format.
Tomorrow Next (Tom/Next)
The concurrent buying and selling of a currency for the following day delivery.
Trading system
A designed tactics for trading the foreign exchange market.
Transaction Cost
The associated cost relating to buying and selling of a financial asset.
Transaction Date
The date in which the trade was carried out.
Turnover
The volume executed over a defined period.
Two Way Price
A combination of the quoted bid and offer rates for a currency transaction.

U
Ugly
A way of depicting a market condition that is unforgiving, violent and quick.
UK100
Another name for the FTSE 100 index.
UK claimant count rate
A measure that shows the number of individuals claiming unemployment benefits. The figure tends to be lower than the unemployment data, because not all the unemployed are eligible for benefits.
UK jobless claims change
This is an economic indicator that measures the change in the number of individuals claiming unemployment benefits over the preceding month.
UK OIL*
Another name for Brent Crude Oil.
Underlying
The real traded market from where a product’s price is gotten.
Unemployment rate
This figure gauges the entire workforce that is unemployed and vigorously seeking employment. It is measured as a percentage of the work force.
Uptick
A unique price quote at a price above the previous quote.
US30
Another name for the Dow Jones Index.
US OIL*
Another name for WTI Crude Oil.
US prime rate
The interest rate issued by US banks to their prime corporate clients.

Y
Yard
Defines a billion units.
Yield
The return from an investment, expressed in percentage.
YoY
A symbol for Year over year.
Yuan
The Chinese base unit currency. The currency is called the Renminbi, while the base unit is called the Yuan.

X
XAG/USD
A symbol in the market for Silver Index.
XAU/USD
A Symbol in the market for Gold Index.
XAX.X
A Symbol in the market for AMEX Composite Index.

W
Warrants
A kind of traded options; offering rights to buy shares or bonds issued by a firm at a definite price within a definite timeframe.
Whipsaw
This is a word used in describing a highly volatile market where a sharp price action is immediately followed by a sharp reversal.
Working order
A situation where the limit order has been called but yet to be filled.
WSJ
An abbreviation for The Wall Street Journal.

V
Value date
This is also referred to as the maturity date, which is the date in which counterparts to a financial transaction conform to sort-out their respective obligations, like payments exchanges.
Variation margin
Funds that is necessary for investors to hold in their account to have the necessary margin to subsist with fluctuations in the market.
Volatility
These are active markets that usually offer trade opportunities.
Volume
The value of securities exchanged during a definite period.

AUD/CAD

Australian Dollar vs Canadian Dollar

AUD/CHF

Australian Dollar vs Swiss Franc

AUD/JPY

Australian Dollar vs Japanese Yen

AUD/NZD

Australian Dollar vs New Zealand Dollar

AUD/USD

Australian Dollar vs US Dollar

CAD/CHF

Canadian Dollar vs Swiss Franc

CAD/JPY

Canadian Dollar vs Japanese Yen

CHF/JPY

Swiss Franc vs Japanese Yen

EUR/AUD

Euro vs Australian Dollar

EUR/CAD

Euro vs Canadian Dollar

EUR/CHF

Euro vs Swiss Franc

EUR/GBP

Euro vs Great Britain Pound

EUR/HUF

Euro vs Hungarian Forint

EUR/ILS

Euro vs Israeli Shekel

EUR/JPY

Euro vs Japanese Yen

EUR/NOK

Euro vs Norwegian Krone

EUR/NZD

Euro vs New Zealand Dollar

EUR/PLN

Euro vs Polish Zloty

EUR/SEK

Euro vs Swedish Krona

EUR/USD

Euro vs US Dollar

GBP/AUD

Great Britain Pound vs Australian Dollar

GBP/CAD

Great Britain Pound vs Canadian Dollar

GBP/CHF

Great Britain Pound vs Swiss Franc

GBP/JPY

Great Britain Pound vs Japanese Yen

GBP/NZD

Great Britain Pound vs New Zealand Dollar

GBP/USD

Great Britain Pound vs US Dollar

NZD/CAD

New Zealand Dollar vs Canadian Dollar

NZD/CHF

New Zealand Dollar vs Swiss Franc

NZD/JPY

New Zealand Dollar vs Japanese Yen

NZD/USD

New Zealand Dollar vs US Dollar

USD/CAD

US Dollar vs Canadian Dollar

USD/CHF

US Dollar vs Swiss Franc

USD/DKK

US Dollar vs Danish Krone

USD/HUF

US Dollar vs Hungarian Forint

USD/ILS

US Dollar vs Israeli Shekel

USD/JPY

US Dollar vs Japanese Yen

USD/MXN

US Dollar vs Mexican Peso

USD/NOK

US Dollar vs Norwegian Krone

USD/PLN

US Dollar vs Polish Zloty

USD/RUB

US Dollar vs Russian Ruble

USD/SEK

US Dollar vs Swedish Krona

USD/SGD

US Dollar vs Singapore Dollar

USD/ZAR

US Dollar vs South African Rand

Brent Crude

The ICE Brent Crude futures contract is a deliverable contract based on EFP delivery with an option to cash settle.

Cocoa

The Cocoa contract is the world benchmark for the global cocoa market.

Coffee

The Coffee “C” contract is the world benchmark for Arabica coffee.

Copper

Copper is the world’s third most widely used metal, after iron and aluminum, and is primarily used in highly cyclical industries such as construction and industrial machinery manufacturing. Profitable extraction of the metal depends on cost-efficient high-volume mining techniques, and supply is sensitive to the political situation particularly in those countries where copper mining is a government-controlled enterprise. Copper market participants across the board use COMEX Division high-grade copper futures and options to mitigate price risk, and the copper contracts are used as investment vehicles, as well.

Gold

The Gold Spot price is quoted as US Dollars per Troy Ounce. 

Natural Gas

Natural gas accounts for almost a quarter of United States energy consumption, and the NYMEX Division natural gas futures contract is widely used as a national benchmark price.

Platinum

Platinum is the principal metal of the six-metal group that bears its name; the other platinum group metals are palladium, rhodium, ruthenium, osmium, and iridium. All possess unique chemical and physical qualities that make them vital industrial materials.

RBOB Gasoline

Gasoline is the largest single volume refined product sold in the United States and accounts for almost half of national oil consumption. It is a highly diverse market, with hundreds of wholesale distributors and thousands of retail outlets, making it subject to intense competition and price volatility.The NYMEX Division New York harbor unleaded gasoline futures contract and reformulated gasoline blendstock for oxygen blending (RBOB) futures contract trade in units of 42,000 gallons (1,000 barrels).

Silver

The Silver Spot price is quoted as US Dollars per Troy Ounce.

Sugar

The Sugar No. 11 contract is the world benchmark contract for raw sugar trading.

WTI - Crude

Crude oil is the world’s most actively traded commodity, and the NYMEX Division light, sweet crude oil futures contract is the world’s most liquid forum for crude oil trading, as well as the world’s largest-volume futures contract trading on a physical commodity. Because of its excellent liquidity and price transparency, the contract is used as a principal international pricing benchmark.

Corn

Corn futures are traded on the Chicago Board of Trade under ticker symbol C in cents per bushel.

Cotton

The cotton No.2 contract is the benchmark for the global cotton trading community.

Soybeans

Soybeans futures are standardized, exchange-traded contracts futures at Chicago Board of Trade (CBOT).

Wheat

Chicago Soft Red Winter (SRW) and KC Hard Red Winter (HRW) are the global industry standards for wheat. Chicago SRW Wheat is the most liquid Wheat futures contract in the world, trading the equivalent of more than 15 million tons each day in 2013–9 ½ times more than the largest European contract. Producers, processors, millers and exporters continue to look to Chicago SRW and KC HRW Wheat for the liquidity that is critical for any risk management solution.

ASX

The S&P/ASX 200 measures the performance of the 200 largest index-eligible stocks listed on the ASX by float-adjusted market capitalization. Representative liquid and tradable, it is widely considered Australia’s preeminent benchmark index.

CAC

The CAC 40 Euro Future, consisting of the 40 stocks that are most representative of the various economic sectors quoted on the Euronext Paris market

DAX

A stock index that represents 30 of the largest and most liquid German companies that trade on the Frankfurt Exchange.

Hang Seng

The Hang Seng Index is a free-float capitalization-weighted index of a selection of companies from the Stock Exchange of Hong Kong. The components of the index are divided into four subindices: Commerce and Industry, Finance, Utilities, and Properties.  developed

Nikkei

The Nikkei-225 Stock Average is a price-weighted average of 225 top-rated Japanese companies, listed in CME Exchange.

SMI

The Swiss Market Index is an index of the largest and most liquid stocks traded on the Geneva, Zurich, and Basel Stock Exchanges.

FTSE

is a share index of the 100 companies listed on the London Stock Exchange with the highest market capitalization. It is seen as a gauge of prosperity for businesses regulated by UK company law.

FTSE-MIB

The Index consists of the 40 most liquid and capitalized stocks listed on the Borsa Italiana.

DOW

The Dow Jones Industrial Average (DJIA) is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange (NYSE) and the NASDAQ.

Nasdaq

The NASDAQ Composite Index is a broad-based capitalization-weighted index of stocks in all, three NASDAQ tiers: Global Select, Global Market and Capital Market.

S&P

Standard and Poor’s 500 Index is a capitalization-weighted index of 500 stocks. The index designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries.

US Dollar

The U.S. Dollar Index(USDX) indicates the general int’l value of the USD. The USDX does this by averaging the exchange rates between the USD and  major world currencies.  The ICE US computes this by using the rates supplied by some 500 banks.

VIX

VIX is the ticker symbol for the Chicago Board Options Exchange (CBOE)Volatility Index, which shows the market’s expectation of 30-day volatility. It is constructed using the implied volatilities of a wide range of S&P 500 index options. This volatility is meant to be forward looking, is calculated from both calls and puts, and is a widely used measure of market risk, often referred to as the “investor fear gauge.”

Nintendo

Nintendo Co., Ltd. globally develops, manufactures and sells home-use video game hardware and software in home entertainment business.  The company also produces home-game products including cards.

Commonwealth

Commonwealth Bank of Australia provides banking, life insurance, and related services for individuals, small businesses and medium sized commercial enterprises. The Bank provides corporate and general banking, international financing, institutional banking and stock broking and funds management such as superannuation product.

Woolworths

Woodside Petroleum Limited explores for and produces oil and gas from offshore and onshore facilities located in Western Australia and Northern Territory. The Company operates numerous oil and gas fields and pipelines throughout Australia, United States and Mauritania and its products include liquefied natural gas, domestic gas, condensate, crude oil and liquefied petroleum gas.

Westpac Banking Corp.

Westpac Banking Corporation offers general and savings banking services. The Company provides investment portfolio management and advice, insurance services, consumer finance, and money market services among other services. Westpac Banking Corp. serves individuals, businesses, and corporations worldwide.

Gazprom (ADR)

Gazprom PAO operates gas pipeline systems, produces and explores gas, and transports high pressure gas in the Russian Federation and European countries. The Company is also engaged in oil production, oil refining, gas storage, and electric and heat energy generation.

Lukoil (ADR)

LUKOIL PJSC explores for, produces, refines, transports, and markets oil and gas mainly from Western Siberia. The Company also manufactures petrochemicals, fuels, and other petroleum products. LUKOIL operates refineries, and gasoline filling stations in Russia and the United States. The Company transports oil through pipelines, and petroleum products with its fleet of ships.

Airbus Group

Airbus Group SE manufactures airplanes and military equipment. The Company produces commercial aircraft including the Airbus, military fighter aircraft, military and commercial helicopters, missiles, satellites, and telecommunications and defense systems, as well as offers military and commercial aircraft conversion and maintenance services.

Air France

Air France-KLM offers air transportation services.  The Company operates airlines and offers travel booking, catering, freight transportation, aircraft maintenance, and pilot training services.

Air Liquide

Air Liquide SA, through its subsidiaries, produces, markets, and sells industrial and healthcare gases worldwide. These gases include liquid nitrogen, argon, carbon dioxide, and oxygen. The Company also produces welding equipment, diving equipment, and technical-medical equipment.  Air Liquide sells its products throughout Europe, the United States, Canada, Africa, and Asia.

AXA

AXA SA is an insurance company which also provides related financial services. The Company offers life and non-life insurance, savings and pension products, and asset management services. AXA operates in both domestic and international markets.

BNP Paribas

BNP Paribas S.A. attracts deposits and offers commercial, retail, investment, private and corporate banking services. The Bank also provides asset management and investment advisory services to institutions and individuals in Europe, the United States, Asia and the emerging markets.

Bouygues

Bouygues SA offers construction services, develops real estate, offers cellular communications services, produces television programming and movies, and manages utilities. The Company offers building, civil engineering, and oil and gas contracting services, develops residential, commercial, and office projects, produces and distributes water and electricity, and collects waste.

Carrefour

Carrefour SA operates chains of supermarkets, hypermarkets, discount, cash and carry, and frozen food stores in Europe, the Americas, and Asia.

Credit Agricole

Credit Agricole S.A. is the lead bank of the Credit Agricole Group. The Company acts as the central bank of the Group, coordinates its sales and marketing strategy and ensures the liquidity & solvency of each of the Caisses Regionales. Credit Agricole S.A., through its subsidiaries, designs and manages specialized financial products that are distributed primarily by the Caisses Regionales.

Edfelect

Electricite de France (EDF) produces, transmits, distributes, imports and exports electricity.  The Company, using nuclear power, coal and gas, provides electricity for French energy consumers.

Orange (France Telecom)

Orange SA provides telecommunications services to residential, professional, and large business customers. The Company offers public fixed-line telephone, leased lines and data transmission, mobile telecommunications, cable television, Internet and wireless applications, and broadcasting services, and telecommunications equipment sales and rentals.

Danone Group

Danone SA is a food processing company. The Company produces dairy products, beverages, baby food, and medical nutrition products.

Legrand

Legrand S.A. specializes in products and systems for electrical installations and information networks. The company’s products are offered for residential, commercial, and industrial use.

Loreal

L’Oreal SA manufactures, markets, and distributes health and beauty aids. The Company produces colorants, styling, and hair care products for professional hairdressers, as well as hair care, cosmetics, and skin care products and perfumes for consumers.

Louis Vuitton

LVMH Moet Hennessy Louis Vuitton SE is a diversified luxury goods group. The Company produces and sells wine, cognac, perfumes, cosmetics, luggage, watches and jewelry.

Michelin

Cie Generale des Etablissements Michelin manufactures all-purpose tires, wheels, steel cables, maps, and tourist guides. The Company’s tire products are used for automobiles, trucks, aircraft, bicycles, and industrial vehicles. Michelin manufactures and distributes its products worldwide.

Pernod Ricard

Pernod Ricard SA produces wines and spirits. The Company produces wines, bitters, whiskies, anis-based spirits, liqueurs, cognacs and brandies, and white spirits and rums. Pernod Ricard markets its products worldwide.

Peugeot

Peugeot S.A. manufactures automobiles and light commercial vehicles.  The Company, through subsidiaries, also manufactures automobile components and motorcycles, and provides logistics and financing services.

Renault

Renault SA designs, manufactures, markets, and repairs passenger cars and light commercial vehicles. The Company also provides financing and service solutions, including credit for new and used vehicles.

Sanofi

Sanofi is a global pharmaceutical company that researches, develops, and manufactures prescription pharmaceuticals and vaccines. The Company develops cardiovascular, thrombosis, metabolic disorder, central nervous system, internal medicine and oncology drugs, and vaccines.

Societe Generale

Societe Generale SA attracts deposits and offers commercial, retail, investment, and private banking services. The Bank offers consumer credit, vehicle lease financing, information technology equipment leasing, life and non-life insurance, custodian services, trade and project financing, currency exchange, treasury services, and financial and commodities futures brokerage services.

Total

TOTAL S.A. explores for, produces, refines, transports, and markets oil and natural gas. The Company also operates a chemical division which produces polypropylene, polyethylene, polystyrene, rubber, paint, ink, adhesives, and resins. TOTAL operates gasoline filling stations in Europe, the United States, and Africa.

Vallourec

Vallourec SA, through its subsidiaries, provides tubular solutions primarily for the energy markets and other industrial applications in the European Union, the United States, Mexico, Canada, South America, Asia, and internationally.

Vivendi France

Vivendi, through its subsidiaries, conducts operations ranging from music, games and television to film and telecommunications. The Company provides digital and pay television services, sells music compact discs (CDs), develops and distributes interactive entertainment, and operates mobile and fixed-line telecommunications.

Credit Suisse

Credit Suisse Group AG is an international financial services group. The Group provides investment banking, private banking, and asset management services to customers located around the world.

Lafargeholcim Ltd.

LafargeHolcim Limited produces building materials. The Company produces and markets ready-mixed concrete, cement, clinker, and ad-mixtures. LafargeHolcim also provides consulting and engineering services in all areas of the cement manufacturing process. LafargeHolcim, through its subsidiaries, operates cement manufacturing facilities around the world.

Allianz

Allianz SE, through subsidiaries, offers insurance and financial services. The Company offers property and casualty, life and health, credit, motor vehicle and travel insurance, and fund management services.

Bayer FWB

Bayer AG produces and markets healthcare and agricultural products. The Company manufactures products that include aspirin, antibiotics, anti-infectives, cardiovascular, oncology, central nervous system drugs, over-the-counter medications, diagnostics, animal health products, crop protection products, plastics, and polyurethanes.

BMW

Bayerische Motoren Werke Aktiengesellschaft (BMW) manufactures and sells luxury cars and motorcycles worldwide. The Company produces everything from convertible sports cars to luxury sedans to touring motorcycles with large displacement engines. BMW serves customers throughout the world.

Commerzbank

Commerzbank AG attracts deposits and offers retail and commercial banking services. The Bank offers mortgage loans, securities brokerage and asset management services, private banking, foreign exchange, and treasury services worldwide.

Daimler

Daimler AG develops, manufactures, distributes, and sells a wide range of automotive products, mainly passenger cars, trucks, vans, and buses. The Company also provides financial and other services relating to its automotive businesses.

Deutsche Bank

Deutsche Bank AG is a global financial service provider delivering commercial, investment, private, and retail banking. The Bank offers debt, foreign exchange, derivatives, commodities, money markets, repo and securitization, cash equities, research, equity prime services, loans, convertibles, advice on M&A and IPO’s, trade finance, retail banking, asset management, and corporate investments.

Deutsche Telekom

Deutsche Telekom AG offers telecommunications services.  The Company offers a full range of fixed-line telephone services, mobile communications services, Internet access, and combined information technology and telecommunications services for businesses.

E. ON

E.ON SE operates in power generation and gas production businesses. The Company’s operations include electric generation at conventional, nuclear, and renewable-source facilities, electric transmission via high-voltage wires network, regional distribution of electricity, gas, and heat, power trading and electricity, gas, and heat sales.

Metro AG

Muenchener Rueckversicherungs-Gesellschaft AG (MunichRe) provides financial services. The Company offers reinsurance, insurance, and asset management services. MunichRe has subsidiaries in most major financial centers throughout the world.

SAP

SAP SE is a multinational software company. The Company develops business software, including e-business and enterprise management software, consults on organizational usage of its applications software, and provides training services. SAP markets its products and services worldwide.

Siemens

Siemens AG is an engineering and manufacturing company. The Company focuses on areas of electrification, automation, and digitalization. Siemens also provides engineering solutions in automation and control, power, transportation, and medical diagnosis.

Volkswagen

Volkswagen AG manufactures economy and luxury automobiles, sports cars, trucks, and commercial vehicles for sale worldwide. The Company produces the Passat, Golf, Cabrio, Jetta, GTI, Beetle and other models. Volkswagen also owns Audi, Seat and Skoda, which manufacture and sell cars in Spain and in southern and eastern Europe, and Lamborghini, which makes sports cars in Italy.

ENI

Eni S.p.A. explores for and produces hydrocarbons in Italy, Africa, the North Sea, the Gulf of Mexico, Kazakhstan, and Australia. The Company both produces natural gas and imports it for sale in Italy and elsewhere in Europe. Eni transports natural gas in pipelines. The Company generates and trades electricity, refines oil, and operates gasoline service stations.

Fiat

Fiat Chrysler Automobiles NV manufactures and markets automobiles and commercial vehicles. The Company also produces metallurgical products and production systems for the automobile industry, and owns publishing and insurance companies.

Telecom Italia

Telecom Italia S.p.A., through subsidiaries, offers fixed line and mobile telephone and data transmission services in Italy and abroad. The Company offers local and long-distance telephone, satellite communications, Internet access, and teleconferencing services.

Banco Bilbao Vizcaya Argentaria

Banco Bilbao Vizcaya Argentaria, S.A. attracts deposits and offers retail, wholesale, and investment banking services. The Bank offers consumer and mortgage loans, private banking, asset management, insurance, mutual funds, and securities brokerage services. Banco Bilbao Vizcaya Argentaria operates in Europe, Latin America, United States, China and Turkey.

Banco Santander

Banco Santander S.A. attracts deposits and offers retail, commercial and private banking, and asset management services. The Bank offers consumer credit, mortgage loans, lease financing, factoring, mutual funds, pension funds, insurance, commercial credit, investment banking services, structured finance, and advice on mergers and acquisitions.

Iberdrola

Iberdrola S.A. enerates, distributes, trades, and markets electricity in the United Kingdom, United States, Spain, Portugal, and Latin America. The Company specializes in clean energy and more specifically wind power.

Inditex

Industria de Diseno Textil, S.A. designs, manufactures, and distributes apparel.  The Company operates retail chains in Europe, the Americas, Asia, and Africa.

Pharma Mar

Pharma Mar SA manufactures drug and medicines. The Company offers cancer treatment through discovering, developing, producing, and marketing innovative drugs of marine origin. Pharma Mar operates throughout Spain.

Repsol

Repsol S.A., through subsidiaries, explores for and produces crude oil and natural gas, refines petroleum, and transports petroleum products and liquefied petroleum gas (LPG). The Company retails gasoline and other products through its chain of gasoline filling stations. Repsol’s petroleum reserves are in Spain, Latin America, Asia, North Africa, and the Middle East and United States.

Telefonica

Telefonica S.A. provides telecommunications services mainly to countries in Europe and Latin America. The Company offers fixed-line and mobile telephone, Internet, and data transmission services to residential and corporate customers.

Barclays

Barclays PLC is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services.

BA Tobacco

British American Tobacco p.l.c. is the holding company for a group of companies that manufactures, markets, and sells cigarettes and other tobacco products, including cigars and roll-your-own tobacco.

British Petroleum

BHP Billiton Plc is an international resources company. The Company’s principal business lines are mineral exploration and production, including coal, iron ore, gold, titanium, ferroalloys, nickel, and copper concentrate, as well as petroleum exploration and production. Dually-listed company with BHP AU.

Glencore

Glencore plc is a diversified natural resources company. The Company operates in three groups, metals and minerals, energy products, and agricultural products. Glencore offers its products and services around the world.

HSBC Holdings

HSBC Holdings plc is the holding company for the HSBC Group. The Company provides a variety of international banking and financial services, including retail and corporate banking, trade, trusteeship, securities, custody, capital markets, treasury, private and investment banking, and insurance. The Group operates worldwide.

Lloyds Banking

Lloyds Banking Group plc, through subsidiaries and associated companies, offers a range of banking and financial services. The Company provides retail banking, mortgages, pensions, asset management, insurance services, corporate banking, and treasury services.

Prudential

Prudential plc is an international company which provides a wide assortment of insurance and investment products and services. Insurance products include life, accident and health, property and casualty insurance, as well as fixed and variable annuities. Prudential’s services include personal and group pensions, equity plans, mortgages, and deposit accounts.

Rio Tinto

Rio Tinto plc is an international mining company. The Company has interests in mining for aluminum, borax, coal, copper, gold, iron ore, lead, silver, tin, uranium, zinc, titanium dioxide feedstock, diamonds, talc and zircon. Dually-listed company with RIO AU.

Royal Bank of Scotland

Royal Bank of Scotland Group plc, through subsidiaries, accepts deposits and offers commercial banking services. The Bank offers business term loans, commercial mortgages, professional practice loans, asset finance and invoice finance loans, residential mortgages, consumer loans, credit cards, financial planning services, and life, personal lines, and income protection insurance.

Royal Dutch Shell

Royal Dutch Shell PLC, through subsidiaries, explores for, produces, and refines petroleum. The Company produces fuels, chemicals, and lubricants. Shell owns and operates gasoline filling stations worldwide.

Tesco

Tesco PLC, through its subsidiaries, operates as a food retailer. The Company offers online retailing, brick and mortar supermarkets, and a private-label brand of products. Tesco provides its services primarily throughout Europe, with additional activities in Asia and the Americas.

Vodafone

Vodafone Group PLC is a mobile telecommunications company providing a range of services, including voice and data communications.  The Company operates in Continental Europe, the United Kingdom, the United States, Asia Pacific, Africa and the Middle East through its subsidiaries, associates, and investments.

3M Company

3M Co. conducts operations in electronics, telecommunications, industrial, consumer and office, health care, safety, and other markets. The Company businesses share technologies, manufacturing operations, brands, marketing channels, and other resources. 3M serves customers in countries located around the world.

American INT Group

American International Group, Inc. is an international insurance organization serving commercial, institutional and individual customers. AIG provides property-casualty insurance, life insurance and retirement services.

ALuminum Company

Alcoa Inc. offers lightweight metals, products and solutions. The Company produces primary aluminum, fabricated aluminum and is a miner of bauxite and refiner of alumina. Alcoa serves customers worldwide primarily in the automotive, aerospace, consumer electronics, packaging, defense, construction, and oil and gas industries.

Alexion Pharmaceuticals

Alexion Pharmaceuticals, Inc., a biopharmaceutical company, researches and develops proprietary immunoregulatory compounds for the treatment of autoimmune and cardiovascular diseases. The Company develops C5 complement inhibitors and apogens which are two classes of potential therapeutic compounds designed to selectively target specific disease-causing segments of the immune system.

Alibaba Group

Alibaba Group Holding Ltd. operates as a holding company. The Company provides internet infrastructure, e-commerce, online financial, and internet content services through its subsidiaries. Alibaba Group Holding offers its products and services worldwide.

Amazon

Amazon.com, Inc. is an online retailer that offers a wide range of products. The Company products include books, music, videotapes, computers, electronics, home and garden, and numerous other products. Amazon offers personalized shopping services, Web-based credit card payment, and direct shipping to customers.

American Airlines

American Airlines Group Inc. operates an airline that provides scheduled passenger, freight, and mail service throughout North America, the Caribbean, Latin America, Europe, and the Pacific. The Company also provides connecting service throughout the United States, Canada, and the Caribbean.

American Tower Corp.

American Tower Corp. is a real estate investment trust that owns, operates, and develops wireless communications and broadcast towers in the United States. The Company leases antennae sites on multi-tenant towers for a diverse range of wireless communications industries, including personal communications services, paging, and cellular.

Apple

Apple Inc. designs, manufactures, and markets personal computers and related personal computing and mobile communication devices along with a variety of related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, third-party wholesalers, and resellers.

AT&T, Inc.

AT&T Inc. is a communications holding company. The Company, through its subsidiaries and affiliates, provides local and long-distance phone service, wireless and data communications, Internet access and messaging, IP-based and satellite television, security services, telecommunications equipment, and directory advertising and publishing.

Baidu

Baidu, Inc. operates an Internet search engine. The Company offers algorithmic search, enterprise search, news, MP3, and image searches, voice assistance, online storage, and navigation services. Baidu serves clients globally.

Berkshrie Hathaway

Berkshire Hathaway Inc. is a holding company owning subsidiaries in a variety of business sectors. The Company’s principal operations are insurance business conducted nationwide on a primary basis and worldwide on a reinsurance basis. Berkshire’s other operations include a railway company, a specialty chemical company, and an international association of diversified businesses.

Bank of America

Bank of America Corporation accepts deposits and offers banking, investing, asset management, and other financial and risk-management products and services. The Company has a mortgage lending subsidiary, and an investment banking and securities brokerage subsidiary.

Boeing

The Boeing Company, together with its subsidiaries, develops, produces, and markets commercial jet aircraft, as well as provides related support services to the commercial airline industry worldwide. The Company also researches, develops, produces, modifies, and supports information, space, and defense systems, including military aircraft, helicopters and space and missile systems.

Caterpillar Inc.

Caterpillar Inc. designs, manufactures, and markets construction, mining, and forestry machinery. The Company also manufactures engines and other related parts for its equipment, and offers financing and insurance. Caterpillar distributes its products through a worldwide organization of dealers.

Chevron Corporation

Chevron Corporation is an integrated energy company with operations in countries located around the world. The Company produces and transports crude oil and natural gas. Chevron also refines, markets, and distributes fuels, as well as is involved in chemical operations, mining operations, power generation, and energy services.

Cisco Systems

Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use. The Company provides products for transporting data, voice, and video within buildings, across campuses, and globally.

Citigroup Inc.

Citigroup Inc. is a diversified financial services holding company that provides a broad range of financial services to consumer and corporate customers. The Company services include investment banking, retail brokerage, corporate banking, and cash management products and services. Citigroup serves customers globally.

Coca-Cola

The Coca-Cola Company manufactures, markets, and distributes soft drink concentrates and syrups. The Company also distributes and markets juice and juice-drink products. Coca-Cola distributes its products to retailers and wholesalers in the United States and internationally.

CyberArk Software

CyberArk Software Ltd. provides information technology security solutions. The Company offers services which protect organizational privileged accounts from cyber attacks.

Delta Air Lines

Delta Air Lines, Inc. provides scheduled air transportation for passengers, freight, and mail over a network of routes throughout the United States and internationally.

Deere

Deere & Company manufactures and distributes a range of agricultural, construction, forestry, and commercial and consumer equipment. The Company supplies replacement parts for its own products and for those of other manufacturers. Deere also provides product and parts financing services. Deere and Company extends its services and products worldwide.

Domino's Pizza Inc.

Domino’s Pizza, Inc. operates a network of company-owned and franchise Domino’s Pizza stores, located throughout the United States and in other countries. The Company also operates regional dough manufacturing and distribution centers in the contiguous United States and outside the United States.

The Walt Disney Company

The Walt Disney Company is an entertainment company that conducts operations in media networks, studio entertainment, theme parks and resorts, consumer products, and interactive media. The Company produces motion pictures, television programs, and musical recordings, as well as books and magazines.

Electronic Arts

Electronic Arts Inc. develops, publishes, and distributes branded interactive entertainment software worldwide for video game consoles, personal computers, handheld game players, and cellular handsets. The Company also provides online game-related services.

eBay Inc.

eBay Inc. is a global commerce company. The Company’s platforms are designed to enable sellers worldwide to organize and offer their inventory for sale and buyers to find and buy it. eBay’s items can be new or used, plain or luxurious, commonplace or rare, trendy or one-of-a-kind.

Exxon Mobil

Exxon Mobil Corporation operates petroleum and petrochemicals businesses on a worldwide basis. The Company operations include exploration and production of oil and gas, electric power generation, and coal and minerals operations. Exxon Mobil also manufactures and markets fuels, lubricants, and chemicals.

Facebook

Facebook Inc. operates a social networking website. The Company website allows people to communicate with their family, friends, and coworkers. Facebook develops technologies that facilitate the sharing of information, photographs, website links, and videos. Facebook users have the ability to share and restrict information based on their own specific criteria.

Ferarri

Ferrari NV designs and manufactures sports cars. The Company offers new and used vehicles, warranty programs, financial supports, and maintenance, as well as watches, apparels, earphones, caps, and other accessories. Ferrari markets its products worldwide.

Fitbit Inc.

Fitbit, Inc. manufactures wireless-enabled and wearable fitness devices. The Company produces products that measure data such as the number of steps walked, quality of sleep, calories burned, and other personalized metrics. Fitbit offers products that utilize accelerometers to assist in sensing user movement.

General Electric

General Electric Company is a globally diversified technology and financial services company. The Company’s products and services include aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products.

Gilead Sciences Inc

Gilead Sciences, Inc. is a research-based biopharmaceutical company that discovers, develops, and commercializes therapeutics to advance the care of patients suffering from life-threatening diseases. The Company primary areas of focus include HIV, AIDS, liver disease, and serious cardiovascular and respiratory conditions.

General Motors

General Motors Co. manufactures and markets new cars and trucks. The Company offers features for special needs drivers, OnStar vehicle protection, service, parts, accessories, maintenance, XM satellite radio, features for commercial owners, and more. General Motors offers its vehicles and services worldwide.

Goldman Sachs Group

The Goldman Sachs Group, Inc., a bank holding company, is a global investment banking and securities firm specializing in investment banking, trading and principal investments, asset management and securities services. The Company provides services to corporations, financial institutions, governments, and high-net worth individuals.

GoPro Inc.

GoPro, Inc. develops and manufactures wearable and gear mountable cameras along with related accessories. The Company’s products are designed for use in activities ranging from action sports to professional videography. GoPro also offers mobile applications and software to enable users to edit, manage, and share their photo and video files.

Google

Alphabet, Inc. operates as a holding company. The Company, through its subsidiaries, provides web-based search, advertisements, maps, software applications, mobile operating systems, consumer content, enterprise solutions, commerce, and hardware products.

Hewlett-Packard

HP Inc. provides imaging and printing systems, computing systems, mobile devices, solutions, and services for business and home. The Company offers products which includes laser and inkjet printers, scanners, copiers and faxes, personal computers, workstations, storage solutions, and other computing and printing systems. HP sells its products worldwide.

Home Depot

The Home Depot, Inc. is a home improvement retailer that sells building materials and home improvement products. The Company sells a wide assortment of building materials, home improvement and lawn and garden products, and provide a number of services. Home Depot operates throughout the U.S. (including Puerto Rico, the Virgin Islands and Guam), Canada, China, and Mexico.

IBM

International Business Machines Corporation (IBM) provides computer solutions through the use of advanced information technology. The Company’s solutions include technologies, systems, products, services, software, and financing. IBM offers its products through its global sales and distribution organization, as well as through a variety of third party distributors and resellers.

Intel

Intel Corporation designs, manufactures, and sells computer components and related products. The Company major products include microprocessors, chipsets, embedded processors and microcontrollers, flash memory, graphic, network and communication, systems management software, conferencing, and digital imaging products.

JD.com Inc.

JD.com Inc is an online direct sales company in China.  The Company offers a wide selection of products through its website and mobile applications.  JD.com sells appliances, computers, digital products, communication products, garments, books, and household items to consumers and vendors.

Johnson & Johnson

Johnson Controls, Inc. markets automotive systems and building controls. The Company supplies seating systems, interior systems, and batteries. Johnson Controls also provides building control systems and services, energy management, and integrated facility management, as well as provides batteries for automobiles and hybrid electric vehicles.

JP Morgan

JPMorgan Chase & Co. provides global financial services and retail banking. The Company provides services such as investment banking, treasury and securities services, asset management, private banking, card member services, commercial banking, and home finance. JP Morgan Chase serves business enterprises, institutions, and individuals.

LinkedIn Corp

LinkedIn Corporation operates a social networking website used for professional networking. The Company’s website allows members to post a profile of their professional expertise and accomplishments. LinkedIn allows members to be introduced to potential clients, service providers, and subject experts.

Lockheed Martin Corp.

Lockheed Martin Corporation is a global security company that primarily researches, designs, develops, manufactures, and integrates advanced technology products and services. The Company businesses span space, telecommunications, electronics, information and services, aeronautics, energy, and systems integration. Lockheed Martin operates worldwide.

Macy's Inc.

Macy’s, Inc. operates department stores in the United States. The Company also operates direct mail catalog and electronic commerce subsidiaries. Macy’s retail stores sell a wide range of merchandise, including men, women, and children apparel and accessories, cosmetics, home furnishings, and other consumer goods.

MasterCard Inc.

MasterCard, Inc. is a global payment solutions company that provides a variety of services in support of the credit, debit, and related payment programs of financial institutions. The Company offers transaction processing services for credit and debit cards, electronic cash, automated teller machines, and travelers checks.

McDonalds

McDonald’s Corporation franchises and operates fast-food restaurants in the global restaurant industry. The Company’s restaurants serve a variety of value-priced menu products in countries around the world.

Morgan Stanley

Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide.

Merck & Co Inc.

Merck & Co., Inc. is a global health care company that delivers health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products, which it markets directly and through its joint ventures. The Company has operations in pharmaceutical, animal health, and consumer care.

Microsoft

Microsoft Corporation develops, manufactures, licenses, sells, and supports software products. The Company offers operating system software, server application software, business and consumer applications software, software development tools, and Internet and intranet software. Microsoft also develops video game consoles and digital music entertainment devices.

Netflix

Netflix Inc. is an Internet subscription service for watching television shows and movies. Subscribers can instantly watch unlimited television shows and movies streamed over the Internet to their televisions, computers, and mobile devices and in the United States, subscribers can receive standard definition DVDs and Blu-ray Discs delivered to their homes.

Nike

NIKE, Inc. designs, develops, and markets athletic footwear, apparel, equipment, and accessory products for men, women, and children. The Company sells its products worldwide to retail stores, through its own stores, subsidiaries, and distributors.

Oracle Corp.

Oracle Corporation supplies software for enterprise information management. The Company offers databases and relational servers, application development and decision support tools, and enterprise business applications. Oracle’s software runs on network computers, personal digital assistants, set-top devices, PCs, workstations, minicomputers, mainframes, and massively parallel computers.

PayPal Holdings Inc.

PayPal Holdings, Inc. operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants. The Company offers online payment solutions. PayPal Holdings serves customers worldwide.

Petróleo Brasileiro

Petroleo Brasileiro S.A. – Petrobras explores for and produces oil and natural gas.  The Company refines, markets, and supplies oil products.  Petrobras operates oil tankers, distribution pipelines, marine, river and lake terminals, thermal power plants, fertilizer plants, and petrochemical units.  The Company operates in South America and elsewhere around the world.

Pfizer

Pfizer Inc. is a research-based, global pharmaceutical company that discovers, develops, manufactures, and markets healthcare products worldwide. The Company’s products include medicines, vaccines, medical devices, and consumer healthcare products.

Procter & Gamble

The Procter & Gamble Company manufactures and markets consumer products in countries throughout the world. The Company provides products in the laundry and cleaning, paper, beauty care, food and beverage, and health care segments. Procter & Gamble products are sold primarily through mass merchandisers, grocery stores, membership club stores, drug stores, and neighborhood stores.

Potash Corp.

Potash Corporation of Saskatchewan Inc. produces potash, phosphate, and nitrogen to the agricultural and industrial industries worldwide.  The Company conducts operations in Canada, Chile, the United States, Brazil, and Trinidad.

Qualcomm Inc.

QUALCOMM, Inc. manufactures digital wireless communications equipment. The Company licenses its code division multiple access (CDMA) and orthogonal frequency division multiplexing access intellectual property to other companies, and produces CDMA-based integrated circuits, as well as equipment and software used to track workers, assets, and software for wireless content enablement.

Starbucks Corp.

Starbucks Corporation retails, roasts, and provides its own brand of specialty coffee. The Company operates retail locations worldwide and sells whole bean coffees through its sales group, direct response business, supermarkets, and on the world wide web. Starbucks also produces and sells bottled coffee drinks and a line of ice creams.

Smith & Wesson Holding Corp.

Smith & Wesson Holding Corporation provides products and services for safety, security, protection, and sport. The Company manufactures a wide array of pistols, revolvers, tactical rifles, hunting rifles, black powder firearms, handcuffs, and firearm-related products and accessories for consumers, law enforcement, and securities agencies worldwide.

Sony

Sony Corporation manufactures audio, home video game consoles, communications, key device, and information technology products for the consumer and professional markets. The Company’s other businesses include music, pictures, computer entertainment, and online businesses.

Tesla Motors Inc.

Tesla Motors, Inc. designs, manufactures, and sells high-performance electric vehicles and electric vehicle powertrain components. The Company owns its sales and service network and sells electric powertrain components to other automobile manufacturers.

Teva

Teva Pharmaceutical Industries Ltd., is a global pharmaceutical company. The Company develops, manufactures, and markets generic and branded human pharmaceuticals as well as active pharmaceutical ingredients.

Twitter

Twitter, Inc. provides online social networking and microblogging service. The Company offers users the ability to follow other users activity, read, and post tweets. Twitter serves customers worldwide.

UBS AG

UBS Group AG provides financial services to private, corporate and institutional clients. The Company offers investment banking, retail banking, corporate and institutional banking, as well as holistic wealth management planning and asset management services. UBS also offers securities services such as fund administration and third-party fund management.

Verizon Communications

Verizon Communications Inc. is an integrated telecommunications company that provides wire line voice and data services, wireless services, internet services, and published directory information. The Company also provides network services for the federal government including business phone lines, data services, telecommunications equipment, and payphones.

VISA Inc.

Visa Inc. operates a retail electronic payments network and manages global financial services. The Company also offers global commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses and government entities.

Wal-Mart

Wal-Mart Stores, Inc. operates discount stores, supercenters, and neighborhood markets. The Company’s discount stores and supercenters offer merchandise such as apparel, housewares, small appliances, electronics, and hardware. Walmart’s markets offer a full-line supermarket and a limited assortment of general merchandise. The Company operates nationally and internationally.

Whiting Petroleum

Whiting Petroleum Corporation, an independent oil and gas company, engages in the acquisition, exploration, development, and production of crude oil, natural gas liquids, and natural gas in the Rocky Mountains and Permian Basin regions of the United States.

Yahoo

Yahoo! Inc. is a global internet media company that offers communications, content, and a community platform that delivers consumer experiences and advertising solutions across digital screens. The Company’s site includes a hierarchical, subject-based directory of web sites, which enables users to locate and access information.

Nintendo

Nintendo Co., Ltd. globally develops, manufactures and sells home-use video game hardware and software in home entertainment business.  The company also produces home-game products including cards.

Commonwealth

Commonwealth Bank of Australia provides banking, life insurance, and related services for individuals, small businesses and medium sized commercial enterprises. The Bank provides corporate and general banking, international financing, institutional banking and stock broking and funds management such as superannuation product.

Woolworths

Woodside Petroleum Limited explores for and produces oil and gas from offshore and onshore facilities located in Western Australia and Northern Territory. The Company operates numerous oil and gas fields and pipelines throughout Australia, United States and Mauritania and its products include liquefied natural gas, domestic gas, condensate, crude oil and liquefied petroleum gas.

Westpac Banking Corp.

Westpac Banking Corporation offers general and savings banking services. The Company provides investment portfolio management and advice, insurance services, consumer finance, and money market services among other services. Westpac Banking Corp. serves individuals, businesses, and corporations worldwide.

Gazprom (ADR)

Gazprom PAO operates gas pipeline systems, produces and explores gas, and transports high pressure gas in the Russian Federation and European countries. The Company is also engaged in oil production, oil refining, gas storage, and electric and heat energy generation.

Lukoil (ADR)

LUKOIL PJSC explores for, produces, refines, transports, and markets oil and gas mainly from Western Siberia. The Company also manufactures petrochemicals, fuels, and other petroleum products. LUKOIL operates refineries, and gasoline filling stations in Russia and the United States. The Company transports oil through pipelines, and petroleum products with its fleet of ships.

Airbus Group

Airbus Group SE manufactures airplanes and military equipment. The Company produces commercial aircraft including the Airbus, military fighter aircraft, military and commercial helicopters, missiles, satellites, and telecommunications and defense systems, as well as offers military and commercial aircraft conversion and maintenance services.

Air France

Air France-KLM offers air transportation services.  The Company operates airlines and offers travel booking, catering, freight transportation, aircraft maintenance, and pilot training services.

Air Liquide

Air Liquide SA, through its subsidiaries, produces, markets, and sells industrial and healthcare gases worldwide. These gases include liquid nitrogen, argon, carbon dioxide, and oxygen. The Company also produces welding equipment, diving equipment, and technical-medical equipment.  Air Liquide sells its products throughout Europe, the United States, Canada, Africa, and Asia.

AXA

AXA SA is an insurance company which also provides related financial services. The Company offers life and non-life insurance, savings and pension products, and asset management services. AXA operates in both domestic and international markets.

BNP Paribas

BNP Paribas S.A. attracts deposits and offers commercial, retail, investment, private and corporate banking services. The Bank also provides asset management and investment advisory services to institutions and individuals in Europe, the United States, Asia and the emerging markets.

Bouygues

Bouygues SA offers construction services, develops real estate, offers cellular communications services, produces television programming and movies, and manages utilities. The Company offers building, civil engineering, and oil and gas contracting services, develops residential, commercial, and office projects, produces and distributes water and electricity, and collects waste.

Carrefour

Carrefour SA operates chains of supermarkets, hypermarkets, discount, cash and carry, and frozen food stores in Europe, the Americas, and Asia.

Credit Agricole

Credit Agricole S.A. is the lead bank of the Credit Agricole Group. The Company acts as the central bank of the Group, coordinates its sales and marketing strategy and ensures the liquidity & solvency of each of the Caisses Regionales. Credit Agricole S.A., through its subsidiaries, designs and manages specialized financial products that are distributed primarily by the Caisses Regionales.

Edfelect

Electricite de France (EDF) produces, transmits, distributes, imports and exports electricity.  The Company, using nuclear power, coal and gas, provides electricity for French energy consumers.

Orange (France Telecom)

Orange SA provides telecommunications services to residential, professional, and large business customers. The Company offers public fixed-line telephone, leased lines and data transmission, mobile telecommunications, cable television, Internet and wireless applications, and broadcasting services, and telecommunications equipment sales and rentals.

Danone Group

Danone SA is a food processing company. The Company produces dairy products, beverages, baby food, and medical nutrition products.

Legrand

Legrand S.A. specializes in products and systems for electrical installations and information networks. The company’s products are offered for residential, commercial, and industrial use.

Loreal

L’Oreal SA manufactures, markets, and distributes health and beauty aids. The Company produces colorants, styling, and hair care products for professional hairdressers, as well as hair care, cosmetics, and skin care products and perfumes for consumers.

Louis Vuitton

LVMH Moet Hennessy Louis Vuitton SE is a diversified luxury goods group. The Company produces and sells wine, cognac, perfumes, cosmetics, luggage, watches and jewelry.

Michelin

Cie Generale des Etablissements Michelin manufactures all-purpose tires, wheels, steel cables, maps, and tourist guides. The Company’s tire products are used for automobiles, trucks, aircraft, bicycles, and industrial vehicles. Michelin manufactures and distributes its products worldwide.

Pernod Ricard

Pernod Ricard SA produces wines and spirits. The Company produces wines, bitters, whiskies, anis-based spirits, liqueurs, cognacs and brandies, and white spirits and rums. Pernod Ricard markets its products worldwide.

Peugeot

Peugeot S.A. manufactures automobiles and light commercial vehicles.  The Company, through subsidiaries, also manufactures automobile components and motorcycles, and provides logistics and financing services.

Renault

Renault SA designs, manufactures, markets, and repairs passenger cars and light commercial vehicles. The Company also provides financing and service solutions, including credit for new and used vehicles.

Sanofi

Sanofi is a global pharmaceutical company that researches, develops, and manufactures prescription pharmaceuticals and vaccines. The Company develops cardiovascular, thrombosis, metabolic disorder, central nervous system, internal medicine and oncology drugs, and vaccines.

Societe Generale

Societe Generale SA attracts deposits and offers commercial, retail, investment, and private banking services. The Bank offers consumer credit, vehicle lease financing, information technology equipment leasing, life and non-life insurance, custodian services, trade and project financing, currency exchange, treasury services, and financial and commodities futures brokerage services.

Total

TOTAL S.A. explores for, produces, refines, transports, and markets oil and natural gas. The Company also operates a chemical division which produces polypropylene, polyethylene, polystyrene, rubber, paint, ink, adhesives, and resins. TOTAL operates gasoline filling stations in Europe, the United States, and Africa.

Vallourec

Vallourec SA, through its subsidiaries, provides tubular solutions primarily for the energy markets and other industrial applications in the European Union, the United States, Mexico, Canada, South America, Asia, and internationally.

Vivendi France

Vivendi, through its subsidiaries, conducts operations ranging from music, games and television to film and telecommunications. The Company provides digital and pay television services, sells music compact discs (CDs), develops and distributes interactive entertainment, and operates mobile and fixed-line telecommunications.

Credit Suisse

Credit Suisse Group AG is an international financial services group. The Group provides investment banking, private banking, and asset management services to customers located around the world.

Lafargeholcim Ltd.

LafargeHolcim Limited produces building materials. The Company produces and markets ready-mixed concrete, cement, clinker, and ad-mixtures. LafargeHolcim also provides consulting and engineering services in all areas of the cement manufacturing process. LafargeHolcim, through its subsidiaries, operates cement manufacturing facilities around the world.

Allianz

Allianz SE, through subsidiaries, offers insurance and financial services. The Company offers property and casualty, life and health, credit, motor vehicle and travel insurance, and fund management services.

Bayer FWB

Bayer AG produces and markets healthcare and agricultural products. The Company manufactures products that include aspirin, antibiotics, anti-infectives, cardiovascular, oncology, central nervous system drugs, over-the-counter medications, diagnostics, animal health products, crop protection products, plastics, and polyurethanes.

BMW

Bayerische Motoren Werke Aktiengesellschaft (BMW) manufactures and sells luxury cars and motorcycles worldwide. The Company produces everything from convertible sports cars to luxury sedans to touring motorcycles with large displacement engines. BMW serves customers throughout the world.

Commerzbank

Commerzbank AG attracts deposits and offers retail and commercial banking services. The Bank offers mortgage loans, securities brokerage and asset management services, private banking, foreign exchange, and treasury services worldwide.

Daimler

Daimler AG develops, manufactures, distributes, and sells a wide range of automotive products, mainly passenger cars, trucks, vans, and buses. The Company also provides financial and other services relating to its automotive businesses.

Deutsche Bank

Deutsche Bank AG is a global financial service provider delivering commercial, investment, private, and retail banking. The Bank offers debt, foreign exchange, derivatives, commodities, money markets, repo and securitization, cash equities, research, equity prime services, loans, convertibles, advice on M&A and IPO’s, trade finance, retail banking, asset management, and corporate investments.

Deutsche Telekom

Deutsche Telekom AG offers telecommunications services.  The Company offers a full range of fixed-line telephone services, mobile communications services, Internet access, and combined information technology and telecommunications services for businesses.

E. ON

E.ON SE operates in power generation and gas production businesses. The Company’s operations include electric generation at conventional, nuclear, and renewable-source facilities, electric transmission via high-voltage wires network, regional distribution of electricity, gas, and heat, power trading and electricity, gas, and heat sales.

Metro AG

Muenchener Rueckversicherungs-Gesellschaft AG (MunichRe) provides financial services. The Company offers reinsurance, insurance, and asset management services. MunichRe has subsidiaries in most major financial centers throughout the world.

SAP

SAP SE is a multinational software company. The Company develops business software, including e-business and enterprise management software, consults on organizational usage of its applications software, and provides training services. SAP markets its products and services worldwide.

Siemens

Siemens AG is an engineering and manufacturing company. The Company focuses on areas of electrification, automation, and digitalization. Siemens also provides engineering solutions in automation and control, power, transportation, and medical diagnosis.

Volkswagen

Volkswagen AG manufactures economy and luxury automobiles, sports cars, trucks, and commercial vehicles for sale worldwide. The Company produces the Passat, Golf, Cabrio, Jetta, GTI, Beetle and other models. Volkswagen also owns Audi, Seat and Skoda, which manufacture and sell cars in Spain and in southern and eastern Europe, and Lamborghini, which makes sports cars in Italy.

ENI

Eni S.p.A. explores for and produces hydrocarbons in Italy, Africa, the North Sea, the Gulf of Mexico, Kazakhstan, and Australia. The Company both produces natural gas and imports it for sale in Italy and elsewhere in Europe. Eni transports natural gas in pipelines. The Company generates and trades electricity, refines oil, and operates gasoline service stations.

Fiat

Fiat Chrysler Automobiles NV manufactures and markets automobiles and commercial vehicles. The Company also produces metallurgical products and production systems for the automobile industry, and owns publishing and insurance companies.

Telecom Italia

Telecom Italia S.p.A., through subsidiaries, offers fixed line and mobile telephone and data transmission services in Italy and abroad. The Company offers local and long-distance telephone, satellite communications, Internet access, and teleconferencing services.

Banco Bilbao Vizcaya Argentaria

Banco Bilbao Vizcaya Argentaria, S.A. attracts deposits and offers retail, wholesale, and investment banking services. The Bank offers consumer and mortgage loans, private banking, asset management, insurance, mutual funds, and securities brokerage services. Banco Bilbao Vizcaya Argentaria operates in Europe, Latin America, United States, China and Turkey.

Banco Santander

Banco Santander S.A. attracts deposits and offers retail, commercial and private banking, and asset management services. The Bank offers consumer credit, mortgage loans, lease financing, factoring, mutual funds, pension funds, insurance, commercial credit, investment banking services, structured finance, and advice on mergers and acquisitions.

Iberdrola

Iberdrola S.A. enerates, distributes, trades, and markets electricity in the United Kingdom, United States, Spain, Portugal, and Latin America. The Company specializes in clean energy and more specifically wind power.

Inditex

Industria de Diseno Textil, S.A. designs, manufactures, and distributes apparel.  The Company operates retail chains in Europe, the Americas, Asia, and Africa.

Pharma Mar

Pharma Mar SA manufactures drug and medicines. The Company offers cancer treatment through discovering, developing, producing, and marketing innovative drugs of marine origin. Pharma Mar operates throughout Spain.

Repsol

Repsol S.A., through subsidiaries, explores for and produces crude oil and natural gas, refines petroleum, and transports petroleum products and liquefied petroleum gas (LPG). The Company retails gasoline and other products through its chain of gasoline filling stations. Repsol’s petroleum reserves are in Spain, Latin America, Asia, North Africa, and the Middle East and United States.

Telefonica

Telefonica S.A. provides telecommunications services mainly to countries in Europe and Latin America. The Company offers fixed-line and mobile telephone, Internet, and data transmission services to residential and corporate customers.

Barclays

Barclays PLC is a global financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services.

BA Tobacco

British American Tobacco p.l.c. is the holding company for a group of companies that manufactures, markets, and sells cigarettes and other tobacco products, including cigars and roll-your-own tobacco.

British Petroleum

BHP Billiton Plc is an international resources company. The Company’s principal business lines are mineral exploration and production, including coal, iron ore, gold, titanium, ferroalloys, nickel, and copper concentrate, as well as petroleum exploration and production. Dually-listed company with BHP AU.

Glencore

Glencore plc is a diversified natural resources company. The Company operates in three groups, metals and minerals, energy products, and agricultural products. Glencore offers its products and services around the world.

HSBC Holdings

HSBC Holdings plc is the holding company for the HSBC Group. The Company provides a variety of international banking and financial services, including retail and corporate banking, trade, trusteeship, securities, custody, capital markets, treasury, private and investment banking, and insurance. The Group operates worldwide.

Lloyds Banking

Lloyds Banking Group plc, through subsidiaries and associated companies, offers a range of banking and financial services. The Company provides retail banking, mortgages, pensions, asset management, insurance services, corporate banking, and treasury services.

Prudential

Prudential plc is an international company which provides a wide assortment of insurance and investment products and services. Insurance products include life, accident and health, property and casualty insurance, as well as fixed and variable annuities. Prudential’s services include personal and group pensions, equity plans, mortgages, and deposit accounts.

Rio Tinto

Rio Tinto plc is an international mining company. The Company has interests in mining for aluminum, borax, coal, copper, gold, iron ore, lead, silver, tin, uranium, zinc, titanium dioxide feedstock, diamonds, talc and zircon. Dually-listed company with RIO AU.

Royal Bank of Scotland

Royal Bank of Scotland Group plc, through subsidiaries, accepts deposits and offers commercial banking services. The Bank offers business term loans, commercial mortgages, professional practice loans, asset finance and invoice finance loans, residential mortgages, consumer loans, credit cards, financial planning services, and life, personal lines, and income protection insurance.

Royal Dutch Shell

Royal Dutch Shell PLC, through subsidiaries, explores for, produces, and refines petroleum. The Company produces fuels, chemicals, and lubricants. Shell owns and operates gasoline filling stations worldwide.

Tesco

Tesco PLC, through its subsidiaries, operates as a food retailer. The Company offers online retailing, brick and mortar supermarkets, and a private-label brand of products. Tesco provides its services primarily throughout Europe, with additional activities in Asia and the Americas.

Vodafone

Vodafone Group PLC is a mobile telecommunications company providing a range of services, including voice and data communications.  The Company operates in Continental Europe, the United Kingdom, the United States, Asia Pacific, Africa and the Middle East through its subsidiaries, associates, and investments.

3M Company

3M Co. conducts operations in electronics, telecommunications, industrial, consumer and office, health care, safety, and other markets. The Company businesses share technologies, manufacturing operations, brands, marketing channels, and other resources. 3M serves customers in countries located around the world.

American INT Group

American International Group, Inc. is an international insurance organization serving commercial, institutional and individual customers. AIG provides property-casualty insurance, life insurance and retirement services.

ALuminum Company

Alcoa Inc. offers lightweight metals, products and solutions. The Company produces primary aluminum, fabricated aluminum and is a miner of bauxite and refiner of alumina. Alcoa serves customers worldwide primarily in the automotive, aerospace, consumer electronics, packaging, defense, construction, and oil and gas industries.

Alexion Pharmaceuticals

Alexion Pharmaceuticals, Inc., a biopharmaceutical company, researches and develops proprietary immunoregulatory compounds for the treatment of autoimmune and cardiovascular diseases. The Company develops C5 complement inhibitors and apogens which are two classes of potential therapeutic compounds designed to selectively target specific disease-causing segments of the immune system.

Alibaba Group

Alibaba Group Holding Ltd. operates as a holding company. The Company provides internet infrastructure, e-commerce, online financial, and internet content services through its subsidiaries. Alibaba Group Holding offers its products and services worldwide.

Amazon

Amazon.com, Inc. is an online retailer that offers a wide range of products. The Company products include books, music, videotapes, computers, electronics, home and garden, and numerous other products. Amazon offers personalized shopping services, Web-based credit card payment, and direct shipping to customers.

American Airlines

American Airlines Group Inc. operates an airline that provides scheduled passenger, freight, and mail service throughout North America, the Caribbean, Latin America, Europe, and the Pacific. The Company also provides connecting service throughout the United States, Canada, and the Caribbean.

American Tower Corp.

American Tower Corp. is a real estate investment trust that owns, operates, and develops wireless communications and broadcast towers in the United States. The Company leases antennae sites on multi-tenant towers for a diverse range of wireless communications industries, including personal communications services, paging, and cellular.

Apple

Apple Inc. designs, manufactures, and markets personal computers and related personal computing and mobile communication devices along with a variety of related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, third-party wholesalers, and resellers.

AT&T, Inc.

AT&T Inc. is a communications holding company. The Company, through its subsidiaries and affiliates, provides local and long-distance phone service, wireless and data communications, Internet access and messaging, IP-based and satellite television, security services, telecommunications equipment, and directory advertising and publishing.

Baidu

Baidu, Inc. operates an Internet search engine. The Company offers algorithmic search, enterprise search, news, MP3, and image searches, voice assistance, online storage, and navigation services. Baidu serves clients globally.

Berkshrie Hathaway

Berkshire Hathaway Inc. is a holding company owning subsidiaries in a variety of business sectors. The Company’s principal operations are insurance business conducted nationwide on a primary basis and worldwide on a reinsurance basis. Berkshire’s other operations include a railway company, a specialty chemical company, and an international association of diversified businesses.

Bank of America

Bank of America Corporation accepts deposits and offers banking, investing, asset management, and other financial and risk-management products and services. The Company has a mortgage lending subsidiary, and an investment banking and securities brokerage subsidiary.

Boeing

The Boeing Company, together with its subsidiaries, develops, produces, and markets commercial jet aircraft, as well as provides related support services to the commercial airline industry worldwide. The Company also researches, develops, produces, modifies, and supports information, space, and defense systems, including military aircraft, helicopters and space and missile systems.

Caterpillar Inc.

Caterpillar Inc. designs, manufactures, and markets construction, mining, and forestry machinery. The Company also manufactures engines and other related parts for its equipment, and offers financing and insurance. Caterpillar distributes its products through a worldwide organization of dealers.

Chevron Corporation

Chevron Corporation is an integrated energy company with operations in countries located around the world. The Company produces and transports crude oil and natural gas. Chevron also refines, markets, and distributes fuels, as well as is involved in chemical operations, mining operations, power generation, and energy services.

Cisco Systems

Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use. The Company provides products for transporting data, voice, and video within buildings, across campuses, and globally.

Citigroup Inc.

Citigroup Inc. is a diversified financial services holding company that provides a broad range of financial services to consumer and corporate customers. The Company services include investment banking, retail brokerage, corporate banking, and cash management products and services. Citigroup serves customers globally.

Coca-Cola

The Coca-Cola Company manufactures, markets, and distributes soft drink concentrates and syrups. The Company also distributes and markets juice and juice-drink products. Coca-Cola distributes its products to retailers and wholesalers in the United States and internationally.

CyberArk Software

CyberArk Software Ltd. provides information technology security solutions. The Company offers services which protect organizational privileged accounts from cyber attacks.

Delta Air Lines

Delta Air Lines, Inc. provides scheduled air transportation for passengers, freight, and mail over a network of routes throughout the United States and internationally.

Deere

Deere & Company manufactures and distributes a range of agricultural, construction, forestry, and commercial and consumer equipment. The Company supplies replacement parts for its own products and for those of other manufacturers. Deere also provides product and parts financing services. Deere and Company extends its services and products worldwide.

Domino's Pizza Inc.

Domino’s Pizza, Inc. operates a network of company-owned and franchise Domino’s Pizza stores, located throughout the United States and in other countries. The Company also operates regional dough manufacturing and distribution centers in the contiguous United States and outside the United States.

The Walt Disney Company

The Walt Disney Company is an entertainment company that conducts operations in media networks, studio entertainment, theme parks and resorts, consumer products, and interactive media. The Company produces motion pictures, television programs, and musical recordings, as well as books and magazines.

Electronic Arts

Electronic Arts Inc. develops, publishes, and distributes branded interactive entertainment software worldwide for video game consoles, personal computers, handheld game players, and cellular handsets. The Company also provides online game-related services.

eBay Inc.

eBay Inc. is a global commerce company. The Company’s platforms are designed to enable sellers worldwide to organize and offer their inventory for sale and buyers to find and buy it. eBay’s items can be new or used, plain or luxurious, commonplace or rare, trendy or one-of-a-kind.

Exxon Mobil

Exxon Mobil Corporation operates petroleum and petrochemicals businesses on a worldwide basis. The Company operations include exploration and production of oil and gas, electric power generation, and coal and minerals operations. Exxon Mobil also manufactures and markets fuels, lubricants, and chemicals.

Facebook

Facebook Inc. operates a social networking website. The Company website allows people to communicate with their family, friends, and coworkers. Facebook develops technologies that facilitate the sharing of information, photographs, website links, and videos. Facebook users have the ability to share and restrict information based on their own specific criteria.

Ferarri

Ferrari NV designs and manufactures sports cars. The Company offers new and used vehicles, warranty programs, financial supports, and maintenance, as well as watches, apparels, earphones, caps, and other accessories. Ferrari markets its products worldwide.

Fitbit Inc.

Fitbit, Inc. manufactures wireless-enabled and wearable fitness devices. The Company produces products that measure data such as the number of steps walked, quality of sleep, calories burned, and other personalized metrics. Fitbit offers products that utilize accelerometers to assist in sensing user movement.

General Electric

General Electric Company is a globally diversified technology and financial services company. The Company’s products and services include aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products.

Gilead Sciences Inc

Gilead Sciences, Inc. is a research-based biopharmaceutical company that discovers, develops, and commercializes therapeutics to advance the care of patients suffering from life-threatening diseases. The Company primary areas of focus include HIV, AIDS, liver disease, and serious cardiovascular and respiratory conditions.

General Motors

General Motors Co. manufactures and markets new cars and trucks. The Company offers features for special needs drivers, OnStar vehicle protection, service, parts, accessories, maintenance, XM satellite radio, features for commercial owners, and more. General Motors offers its vehicles and services worldwide.

Goldman Sachs Group

The Goldman Sachs Group, Inc., a bank holding company, is a global investment banking and securities firm specializing in investment banking, trading and principal investments, asset management and securities services. The Company provides services to corporations, financial institutions, governments, and high-net worth individuals.

GoPro Inc.

GoPro, Inc. develops and manufactures wearable and gear mountable cameras along with related accessories. The Company’s products are designed for use in activities ranging from action sports to professional videography. GoPro also offers mobile applications and software to enable users to edit, manage, and share their photo and video files.

Google

Alphabet, Inc. operates as a holding company. The Company, through its subsidiaries, provides web-based search, advertisements, maps, software applications, mobile operating systems, consumer content, enterprise solutions, commerce, and hardware products.

Hewlett-Packard

HP Inc. provides imaging and printing systems, computing systems, mobile devices, solutions, and services for business and home. The Company offers products which includes laser and inkjet printers, scanners, copiers and faxes, personal computers, workstations, storage solutions, and other computing and printing systems. HP sells its products worldwide.

Home Depot

The Home Depot, Inc. is a home improvement retailer that sells building materials and home improvement products. The Company sells a wide assortment of building materials, home improvement and lawn and garden products, and provide a number of services. Home Depot operates throughout the U.S. (including Puerto Rico, the Virgin Islands and Guam), Canada, China, and Mexico.

IBM

International Business Machines Corporation (IBM) provides computer solutions through the use of advanced information technology. The Company’s solutions include technologies, systems, products, services, software, and financing. IBM offers its products through its global sales and distribution organization, as well as through a variety of third party distributors and resellers.

Intel

Intel Corporation designs, manufactures, and sells computer components and related products. The Company major products include microprocessors, chipsets, embedded processors and microcontrollers, flash memory, graphic, network and communication, systems management software, conferencing, and digital imaging products.

JD.com Inc.

JD.com Inc is an online direct sales company in China.  The Company offers a wide selection of products through its website and mobile applications.  JD.com sells appliances, computers, digital products, communication products, garments, books, and household items to consumers and vendors.

Johnson & Johnson

Johnson Controls, Inc. markets automotive systems and building controls. The Company supplies seating systems, interior systems, and batteries. Johnson Controls also provides building control systems and services, energy management, and integrated facility management, as well as provides batteries for automobiles and hybrid electric vehicles.

JP Morgan

JPMorgan Chase & Co. provides global financial services and retail banking. The Company provides services such as investment banking, treasury and securities services, asset management, private banking, card member services, commercial banking, and home finance. JP Morgan Chase serves business enterprises, institutions, and individuals.

LinkedIn Corp

LinkedIn Corporation operates a social networking website used for professional networking. The Company’s website allows members to post a profile of their professional expertise and accomplishments. LinkedIn allows members to be introduced to potential clients, service providers, and subject experts.

Lockheed Martin Corp.

Lockheed Martin Corporation is a global security company that primarily researches, designs, develops, manufactures, and integrates advanced technology products and services. The Company businesses span space, telecommunications, electronics, information and services, aeronautics, energy, and systems integration. Lockheed Martin operates worldwide.

Macy's Inc.

Macy’s, Inc. operates department stores in the United States. The Company also operates direct mail catalog and electronic commerce subsidiaries. Macy’s retail stores sell a wide range of merchandise, including men, women, and children apparel and accessories, cosmetics, home furnishings, and other consumer goods.

MasterCard Inc.

MasterCard, Inc. is a global payment solutions company that provides a variety of services in support of the credit, debit, and related payment programs of financial institutions. The Company offers transaction processing services for credit and debit cards, electronic cash, automated teller machines, and travelers checks.

McDonalds

McDonald’s Corporation franchises and operates fast-food restaurants in the global restaurant industry. The Company’s restaurants serve a variety of value-priced menu products in countries around the world.

Morgan Stanley

Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide.

Merck & Co Inc.

Merck & Co., Inc. is a global health care company that delivers health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products, which it markets directly and through its joint ventures. The Company has operations in pharmaceutical, animal health, and consumer care.

Microsoft

Microsoft Corporation develops, manufactures, licenses, sells, and supports software products. The Company offers operating system software, server application software, business and consumer applications software, software development tools, and Internet and intranet software. Microsoft also develops video game consoles and digital music entertainment devices.

Netflix

Netflix Inc. is an Internet subscription service for watching television shows and movies. Subscribers can instantly watch unlimited television shows and movies streamed over the Internet to their televisions, computers, and mobile devices and in the United States, subscribers can receive standard definition DVDs and Blu-ray Discs delivered to their homes.

Nike

NIKE, Inc. designs, develops, and markets athletic footwear, apparel, equipment, and accessory products for men, women, and children. The Company sells its products worldwide to retail stores, through its own stores, subsidiaries, and distributors.

Oracle Corp.

Oracle Corporation supplies software for enterprise information management. The Company offers databases and relational servers, application development and decision support tools, and enterprise business applications. Oracle’s software runs on network computers, personal digital assistants, set-top devices, PCs, workstations, minicomputers, mainframes, and massively parallel computers.

PayPal Holdings Inc.

PayPal Holdings, Inc. operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants. The Company offers online payment solutions. PayPal Holdings serves customers worldwide.

Petróleo Brasileiro

Petroleo Brasileiro S.A. – Petrobras explores for and produces oil and natural gas.  The Company refines, markets, and supplies oil products.  Petrobras operates oil tankers, distribution pipelines, marine, river and lake terminals, thermal power plants, fertilizer plants, and petrochemical units.  The Company operates in South America and elsewhere around the world.

Pfizer

Pfizer Inc. is a research-based, global pharmaceutical company that discovers, develops, manufactures, and markets healthcare products worldwide. The Company’s products include medicines, vaccines, medical devices, and consumer healthcare products.

Procter & Gamble

The Procter & Gamble Company manufactures and markets consumer products in countries throughout the world. The Company provides products in the laundry and cleaning, paper, beauty care, food and beverage, and health care segments. Procter & Gamble products are sold primarily through mass merchandisers, grocery stores, membership club stores, drug stores, and neighborhood stores.

Potash Corp.

Potash Corporation of Saskatchewan Inc. produces potash, phosphate, and nitrogen to the agricultural and industrial industries worldwide.  The Company conducts operations in Canada, Chile, the United States, Brazil, and Trinidad.

Qualcomm Inc.

QUALCOMM, Inc. manufactures digital wireless communications equipment. The Company licenses its code division multiple access (CDMA) and orthogonal frequency division multiplexing access intellectual property to other companies, and produces CDMA-based integrated circuits, as well as equipment and software used to track workers, assets, and software for wireless content enablement.

Starbucks Corp.

Starbucks Corporation retails, roasts, and provides its own brand of specialty coffee. The Company operates retail locations worldwide and sells whole bean coffees through its sales group, direct response business, supermarkets, and on the world wide web. Starbucks also produces and sells bottled coffee drinks and a line of ice creams.

Smith & Wesson Holding Corp.

Smith & Wesson Holding Corporation provides products and services for safety, security, protection, and sport. The Company manufactures a wide array of pistols, revolvers, tactical rifles, hunting rifles, black powder firearms, handcuffs, and firearm-related products and accessories for consumers, law enforcement, and securities agencies worldwide.

Sony

Sony Corporation manufactures audio, home video game consoles, communications, key device, and information technology products for the consumer and professional markets. The Company’s other businesses include music, pictures, computer entertainment, and online businesses.

Tesla Motors Inc.

Tesla Motors, Inc. designs, manufactures, and sells high-performance electric vehicles and electric vehicle powertrain components. The Company owns its sales and service network and sells electric powertrain components to other automobile manufacturers.

Teva

Teva Pharmaceutical Industries Ltd., is a global pharmaceutical company. The Company develops, manufactures, and markets generic and branded human pharmaceuticals as well as active pharmaceutical ingredients.

Twitter

Twitter, Inc. provides online social networking and microblogging service. The Company offers users the ability to follow other users activity, read, and post tweets. Twitter serves customers worldwide.

UBS AG

UBS Group AG provides financial services to private, corporate and institutional clients. The Company offers investment banking, retail banking, corporate and institutional banking, as well as holistic wealth management planning and asset management services. UBS also offers securities services such as fund administration and third-party fund management.

Verizon Communications

Verizon Communications Inc. is an integrated telecommunications company that provides wire line voice and data services, wireless services, internet services, and published directory information. The Company also provides network services for the federal government including business phone lines, data services, telecommunications equipment, and payphones.

VISA Inc.

Visa Inc. operates a retail electronic payments network and manages global financial services. The Company also offers global commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses and government entities.

Wal-Mart

Wal-Mart Stores, Inc. operates discount stores, supercenters, and neighborhood markets. The Company’s discount stores and supercenters offer merchandise such as apparel, housewares, small appliances, electronics, and hardware. Walmart’s markets offer a full-line supermarket and a limited assortment of general merchandise. The Company operates nationally and internationally.

Whiting Petroleum

Whiting Petroleum Corporation, an independent oil and gas company, engages in the acquisition, exploration, development, and production of crude oil, natural gas liquids, and natural gas in the Rocky Mountains and Permian Basin regions of the United States.

Yahoo

Yahoo! Inc. is a global internet media company that offers communications, content, and a community platform that delivers consumer experiences and advertising solutions across digital screens. The Company’s site includes a hierarchical, subject-based directory of web sites, which enables users to locate and access information.

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SPDR Financial

First Trust Financial AlphaDEX Fund is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond to the StrataQuant Financial AlphaDEX Index which ranks financial stocks of the Russell 1000 Index on growth factors including three, six and 12-month price appreciation, sales to price and one year sales growth, and, separately, on value factors.

SPDR Gold

SPDR Gold Shares is an investment fund incorporated in the USA.  The investment objective of the Trust is for the Shares to reflect the performance of the price of gold bullion, less the Trust’s expenses. The Trust holds gold and is expected from time to time to

SPDR S&P 500

SPDR S&P 500 ETF Trust is an exchange-traded fund incorporated in the USA. The ETF tracks the S&P 500 Index. The Trust consists of a portfolio representing all 500 stocks in the S&P 500 Index. It holds predominantly large-cap U.S. stocks. This ETF is structured as a Unit Investment Trust and pays dividends on a quarterly basis. The holdings are weighted by market capitalization.

Powershares QQQ

Powershares QQQ Trust Series 1 is an exchange-traded fund incorporated in the USA. The ETF tracks the performance of the Nasdaq 100 Index. The ETF holds large cap U.S. stocks. Its investments exclude the financial sector and therefore, tend to be focused on the technology and consumer sector. The ETF weights the holdings using a market capitalization methodology.

SPDR Energy

The Fidelity MSCI Energy Index ETF is an exchange-traded fund incorporated in the USA. The ETF seeks to provide investment returns that correspond, before fees and expenses, generally to the performance of the MSCI  USA IMI Energy Index.

iShares Russell 2000

iShares Russell 2000 ETF is an exchange-traded fund incorporated in the USA. The ETF tracks the performance of the Russell 2000 Index Fund. The ETF holds mid and small-cap U.S. stocks. Its investments are in the smallest 2000 companies from the Russell 3000 Index. The ETF weights the holdings by market capitalization and rebalances annually.

iShares Brazil

iShares MSCI Brazil Capped ETF is an exchange-traded fund in the USA. The ETF’s objective is to provide investment results that correspond to the performance of the MSCI Brazil 25/50 Index. The ETF invests in mid and large cap companies in Brazil representing 85% of the Brazilian stock market. The ETF provides investors with comprehensive Brazilian  coverage.

iShares MSCI Emerging Markets

iShares MSCI Emerging Markets ETF is an exchange-traded fund incorporated in the USA. The ETF tracks the performance of the MSCI TR Emerging Markets Index. The ETF holds emerging market stocks that can predominantly be classified as large and mid-cap. It weights the holdings using a market capitalization methodology and rebalances quarterly.

iShares Nasdaq Biotechnology

iShares Nasdaq Biotechnology ETF is an exchange-traded fund incorporated in the USA. The Fund’s objective seeks investment results that correspond to the performance of the Nasdaq Biotechnology Index. The Fund will concentrate its investments in companies primarily engaged in using biomedical research for the discovery or development of new treatments or cures for human disease.