Guaranteed Personal Loan
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Elasticity of an option 
 
Percentage change in the value of an option given a 1% change in the value of the options underlying stock. 
 
Electronic data interchange (EDI) 
 
The exchange of information electronically, directly from one firms computer to another firms computer, in a
structured format. 
 
Electronic depository transfers 
 
The transfer of funds between bank accounts through the Automated Clearing House (A.C.H.) system. 
 
Eligible bankers acceptances 
 
In the BA market, an acceptance may be referred to as eligible because it is acceptable by the Fed as
collateral at the discount window and/or because the accepting bank can sell it without incurring a reserve
requirement. 
 
Elliott Wave Theory 
 
Used in the context of general equities. Technical market timing strategy that predicts price movements
based on historical price wave patterns and their underlying psychological motives. Robert Prechter is a
famous Elliott Wave Theorist. 
 
EM 
 
See: Effective Margin 
 
EM 
 
See: Effective margin 
 
Embedded option 
 
An option that is part of the structure of a bond that provides either the bondholder or issuer the right to take
some action against the other party, as opposed to a bare option, which trades separately from any
underlying security. 
 
Emerging markets 
 
The financial markets of developing economies. 
 
Employee stock fund 
 
A firm-sponsored program that enables employees to purchase shares of the firms common stock on a
preferential basis. 
 
Employee stock ownership plan (ESOP) 
 
A company contributes to a trust fund that buys stock on behalf of employees. 
 
EMS 
 
See: European Monetary System 
 
End-of-year convention