Ask Rate is the rate at which a trader can buy a currency that is for sale.
Base Currency is the currency in which other currencies are quoted in a pair. Usually the U.S. dollar is considered the ‘Base Currency’.
Bid/Ask Spread is the difference between the bid and offer price or buy and sell price.
Big Figure is a term used by dealer and/or brokers. It refers to the first few digits of an exchange rate.
Clearing is a term used to refer to a process of settling a trade.
Commission is the fee that is charged by a broker/dealer.
Confirmation is a document that states the terms of a transaction.
Contract is the standard unit of trading.
Cross Rate is the exchange rate between any two currencies that are not of the country in which the currency pair is quoted. For example, in the U.S., a GBP/JPY quote would be considered a Cross Rate. The same quote would not be a Cross Rate in either the U.K. or Japan.
No comments:
Post a Comment