Financial Dictionary


X Efficiency

The degree of efficiency maintained by individuals and firms under conditions of imperfect competition. According to the neoclassical theory of economics, under perfect competition individuals and firms must maximize efficiency in order to succeed and make a profit; those who do not will fail and be forced to exit the market. But, x-efficiency theory asserts […]

X Mark Signature

X mark made by a person in lieu of a signature. Due to illiteracy or disability, a person may be unable to append a full signature to a document he or she has reviewed and approved its contents. In order to be legally valid, the X-mark signature must be witnessed.


A symbol used to indicate that a stock is trading ex-dividend. XD also refers to a bonds and mutual funds. When talking bonds, XD means that a bond is trading without interest, and in the case of mutual funds, it means that a mutual fund paid a capital gain or dividend recently.


A currency that trades in markets outside of its domestic borders. “Xeno” is a prefix meaning foreign.


An all-electronic trading system based in Frankfurt, Germany. Launched in 1997 and operated by the Deutsche Börse, the Xetra platform offers increased flexibility for seeing order depth within the markets and offers trading in stocks, funds, bonds, warrants and commodities contracts. The Xetra system was originally created for use on the Frankfurt Stock Exchange, but […]


A symbol shown on consolidation tape used to show that a security is trading with expired rights offering.

XRT Symbol

Used after a stock symbol on consolidation tape in order to maintain accuracy of shown information.