ETC (EXPORT TRADING COMPANY) is a private company that usually purchases items from domestic manufacturers, then sells them to foreign markets. The difference between an EMC and an ETC is sometimes insignificant, i.e., an EMC may occasionally take title of goods, while an ETC may sometimes work strictly on commission without purchasing the goods. The difference is what the company normally does.
AMERICAN DEPOSITORY RECEIPTS (ADR) is ownership in the shares of a non-U.S. company that trades in U.S. financial markets. The stock of many non-US companies trade on US stock exchanges through the use of ADRs. ADRs enable U.S. investors to buy shares in foreign companies without the hazards or inconveniences of cross-border & cross-currency transactions. ADRs carry prices in US dollars, pay dividends in US dollars, and can be traded like the shares of US-based companies.
GOING SHORT is the selling of commodities, bonds, or stock before actually buying it. This happens when a dealer or investor believes the price of the item (on the date of its delivery to the buyer) will be lower than its current price. He or she expects to make a profit by buying the item on or just before its delivery date. See GOING LONG.
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