|
Odd Lot |
A non-standard amount for a transaction. |
|
Offer |
The price, or rate, that a willing seller is prepared to
sell at. |
|
"One Cancels the Other Order" or "OCO Order." |
Two orders that are linked. If one order is executed, the
other is canceled. |
|
Open position |
Any deal that has not been offset by an equal and opposite
deal. |
|
Overnight Position |
Trader’s open long or short position that is not closed by
the end of a trading day. |
|
Overnight Trading |
Refers to a purchase or sale between the hours of 9:00
p.m. and 8:00 a.m. on the following day. |
|
Opening Transaction |
An order that, when executed, establishes a long position
or a short position, or increases an existing position. |
|
Order |
Generally an instruction by a customer (or a customer’s
authorized agent) to attempt to execute a trade for the
customer’s account. |
|
Over-the-Counter or "OTC" |
Off-exchange markets in which market participants, such as
Delta Stock and the customer, enter into privately
negotiated contracts or other transactions directly with
each other. |
|
Overnight Position |
A trader’s open long or short position that is not closed
by the end of a trading day. |
|
Odd Coupon: |
Sometimes, the first or last coupon period is either
longer or shorter than a normal coupon period and
therefore the coupon payment is more or less than a normal
coupon payment. Calculating the odd coupon payment is
roughly the same as calculating accrued |
|
Odd Lot: |
A non standard amount for a transaction. A premium is
often charged. |
|
Odd Maturity or date: |
see broken dates |
|
OECD: |
Organisation of Economic Cooperation and Development,
membership is the more than developed countries |
|
Offer: |
The price at which a seller is willing to sell. The best
offer is the lowest such price available. |
|
Offered market: |
Temporary situation where offers exceed bid. |
|
Offset: |
The closing-out or liquidation of a futures position. |
|
Official Settlements Account: |
A US balance of payments measure based on movement of
dollars in foreign official holdings and US reserves. Also
referred to as reserve transaction account. |
|
Off-shore: |
The operations of a financial institution which although
physically located in a country, has little connection
with that country's financial systems. In certain
countries a bank is not permitted to do business in the
domestic market but only with other f |
|
Old Lady: |
Old lady of Threadneedle Street, a term for the Bank of
England. |
|
Omnibus Account: |
An account maintained by one broker with another in which
all of the accounts of the former are combined and carried
only in its name, rather than designated separately. |
|
Open interest: |
The total number of outstanding option or futures
contracts that have not been closed out by offset or
fulfilled by delivery. |
|
Open outcry: |
A public auction method of trading conducted by calling
out bids and offers across a trading ring or pit and
having them accepted. |
|
Open Market Committee: |
See Federal Open Market Committee. |
|
Open Market Operations: |
Central Bank operations in the markets to influence
exchange and interest rates. |
|
Open position: |
The difference between assets and liabilities in a
particular currency. This may be measured on a per
currency basis or the position of all currencies when
calculated in base currency. |
|
Option class: |
All options of the same type - calls or puts -listed on
the same underlying instrument. |
|
Option series: |
All options of the same class having the same
exercise/strike price and expiration date. |
|
Option: |
A contract conferring the right but not the obligation to
buy (call) or to sell (put) a specified amount of an
instrument at a specified price within a predetermined
time period. |
|
Optionspreis: |
German for premium. The price a put or call buyer must pay
to a put or call seller for an option contract. |
|
Original Margin: |
see Initial Margin |
|
OTC: |
Over the Counter, the term used to describe futures and
options not traded on an exchange. Trade is directly
between buyers and sellers and there is no standardisation
of strikes or expirations. |
|
Out-of the money: |
A put option is out-of-the-money if the exercise/strike
price is below the price of the underlying instrument. A
call option is out-of-the money if the exercise/strike
price is higher than the price of the underlying
instrument. See In-the-money. |
|
Outright deal: |
A forward deal that is not part of a swap operation. |
|
Over bought or over sold: |
See long and short. |
|
Overhang: |
A holding of foreign exchange that is temporarily unable
to be converted from the reserve currency into other
reserve assets. |
|
Overheated Economy: |
Is an economy where high growth rates placing pressure on
production capacity resulting in increased inflationary
pressures and higher interest rates. |
|
Overnight limit: |
Net long or short position in one or more currencies that
a dealer can carry over into the next dealing day. Passing
the book to other bank dealing rooms in the next trading
time zone reduces the need for dealers to maintain these
unmonitored exposures. |
|
Overnight: |
A deal from today until the next business day. |
|
Over the counter: |
See OTC |
|
Package deal: |
When a number of exchange and /or deposit orders have to
be fulfilled simultaneously. |
