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Term Definition: # | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

Acceptance House An acceptance house “accepts” a trade bill at a specified date in the future, meaning it pays the trade bill at a discounted rate. 
Account The record of transactions, charges, credits and debits with or by Delta Stock in respect of a customer’s foreign currency transactions, which the customer now has or at any time may have with Delta Stock. 
Account Balance The sum of all deposits, interest income and realized gains minus all withdrawals, realized losses, and incidental fees.
Account History Display log of all transactions made and closed.
Accrual The apportionment of premiums and discounts on forward exchange transactions that relate directly to deposit swap (interest arbitrage) deals over the period of each deal. 
 
Accrued Interest Interest that has been earned on a bond but not yet paid. Typically, interest accrues on a daily basis from the previous coupon date (inclusive) to the value date (exclusive). An investor buying a bond must pay accrued interest to the seller.
Actuals The underlying assets or instruments which are traded in the cash market.
Actualize The underlying assets or instruments that are traded in the cash market.
ADB: Abbreviation for African Development Bank and the Asian Development Bank.
Accumulation / Distribution Analysis A technical analysis, which measures the difference between the cumulative amount of buying pressure and the cumulative amount of selling pressure.
Adjustable Peg Term for an exchange rate regime where a country's exchange rate is "pegged" (i.e. fixed) in relation to another currency, often the US dollar or French franc, but where the rate may be changed from time to time. This was the basis of the Bretton Woods system. See peg and crawling peg.
Adjustment Official action, normally either by a change in the internal economic policies to correct a payment imbalance or in the official currency rate. 
Agent Bank (1) A bank acting for a foreign bank. (2) In the euro market, the agent bank is the one appointed by the other banks in the syndicate to handle the administration of the loan. 
Aggregate Demand Total demand for goods and services in the economy. Includes private and public sector demand for goods and services within the country and the demand of consumers and firms in other countries for good and services. 
Aggregate risk Size of exposure of a bank to a single customer for both spot and forward contracts. 
Aggregate Supply Total supply of goods and services in the economy from domestic sources (including imports) available to meet aggregate demand. 
Agio Difference in the value between currencies. Also used to describe percentage charges for conversion from paper money into cash, or from a weak into a strong currency. 
AIBOR Amsterdam Inter-bank Offered Rate.
Agreement The Customer Agreement, including all annexes thereto, and all documents and authorizations executed by the customer in connection with the maintenance of the customer’s account (regardless of when such documents and authorizations are executed), as amended from time to time. 
Allotment Letter The letter sent by the issuer to person to hold bond, it represents ownership.
American Option An option which may be exercised at any time prior to expiration. Compared with a European option that can only be exercised on a specific date.
Annualized Extrapolates the behavior of an element (such as volatility) from a certain time period to a full year.
Announcement Date Launch date, the date when most terms of bond are made public, such as size and maturity.
Answerback: Code name of a telex subscriber, printed automatically by the telex machine.
Appreciation A currency is said to “appreciate” when it strengthens in price in response to market demand. 
Arbitrage The purchase or sale of an instrument and simultaneous taking of an equal and opposite position in a related market in order to take advantage of small price differentials between markets. 
Arbitrage channel The range of prices within which there will be no possibility to arbitrate between the cash and futures market. 
Arcru A unit of account based on the movement of 12 Arab currencies against the US dollar.
Around Dealer jargon used in quoting when the forward premium/discount is near parity. For example, “two-two around” would translate into two points to either side of the present spot. 
Article 8 Currency: A senior currency in IMF terminology, which should be freely convertible.
As you like option: Enables the holder to convert from one style of option to a different style of option over a preset period of time. Sometimes referred to as either a "call-or-put option" or "chooser option".
Asian Monetary Unit: An accounting unit for the Asian Clearing Union with the same value as an SDR.
Asset Allocation Investment practice that divides funds among different markets to achieve diversification for risk management purposes and/or expected returns consistent with an investor’s objectives.
Ask (Offer) Price Ask is the market selling price, the price at which Delta Stock or the market is prepared to sell a specified currency in a foreign exchange contract or cross currency contract. At this price, the trader can buy the base currency. In the quotation, it is shown on the right side of the quotation.
Ask -  The price at which the currency or instrument is offered.
Asset: In the context of foreign exchange is the right to receive from a counterparty an amount of currency either in respect of a balance sheet asset (eg a loan) or at a specified future date in respect of an unmatched forward Forward or spot deal.
Assignment: Notice to an option holder, usually by the clearing house of an exchange traded option that the option has been exercised.
Association Cambiste Internationale: The international society of foreign exchange dealers consisting of national "Forex clubs" affiliated on a world wide basis.
ATHIBOR: Athens Inter-bank Offered Rate.
Au Jour le Jour: The rate for money lent from day to day on the French money market.
Auction: Sale of an item to the highest bidder. (1) A method commonly used in exchange control regimes for the allocation of foreign exchange. (2) A method for allocating government paper, such as US Treasury Bills. Small investors are given preferential access to the bills. The average issuing price is then computed on the basis of the competitive bids accepted. In some circumstances for government auctions it is the yield rather than the price which is bid.
Automated Clearing House: A US term for an organisation set up by financial institutions agreeing to initiate and receive among themselves electronic transfers of funds authorised by their customers.
Automatic exercise: A procedure for exchange traded options under which the in the money options are exercised on a given date.
Average life: The arithmetic weighted average life of a bond where the weights are the proportion of the principal amount being redeemed.
Average Rate Option: A contract where the exercise price is based on the difference between the strike price and the average spot rate over the contract period. Sometimes called an "Asian option"
At best An instruction given to a dealer to buy or sell at the best rate that can be obtained.
At or Better An order to deal at a specific rate or better. 
At-the-money In options, when the strike price equals the price of the underlying contract 
Authorized dealer A financial institution or bank authorized to deal in foreign exchange.

Term Definition: # | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

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