Exchange Traded Note - An exchange traded note is also known as an ETN. This is a type of security debt that combines features of a bond and feature of an exchange traded fund. Exchange traded notes can be traded on the NSE, and other such exchanges, but can be held until the maturity date, as well, just like a bond. The amount of return you receive on an exchange traded note depends on and is based on the performance of a specific market index; whereas, the value of the exchange traded note is affected by changes in credit ratings of the party who issued them, and other changes.
Exempt Security - An exempt security is a specific security that is not subject to some SEC, Security and Exchange Commission, or Federal Reserve Board rules. The Federal Reserve Board consist of a seven member board of governors who oversee establishing monetary policy, Federal Reserve Bank interest rates/credits/and more, watch the economic health of the country. The members are appointed by the President, subject to Senate approval, and serve fourteen-year terms. The SEC is the major regulating agency for the securities industry and there responsibility is to enforce full disclosure and to protect investors from fraudulent practices in the securities markets.