外汇黄金投资 - 词汇.docx

文档介绍：Glossary 外汇投资词汇 Aggregate Total amount of exposure a bank has with a customer for both spot and forward contracts. American Option An option which may be exercised at any valid business date throughout the life of the option. Appreciation Describes a currency strengthening in response to market demand rather than by official action. Arbitrage A risk-free type of trading where the same instrument is bought and sold simultaneously in two different markets in order to cash in on the difference in these markets. Around Used in quoting forward "premium / discount". Ask Price Ask is the lowest price acceptable to the buyer. Asset In the context of foreign exchange it is the right to receive from a counterparty an amount of currency either in respect ofa balance sheet asset (. a loan) or ata specified future date in respect of an unmatched forward or spot deal. AtBest An instruction given toa dealer to buy or sell at the best rate that is currently available in the market. AtorBetter An order to deal ata specific rate or better. AtPar Forward Spread When the forward price is equivalent to the spot price. Atthe Price Stop-Loss Order A stop-loss order that must be executed at the requested level regardless of market conditions. At-the-Money An option whose strike/exercise price is equal to or near the current market price of the underlying instrument. Auction Sale of an item to the highest bidder. (1) A monly 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 puted on the basis of petitive bids accepted. In some circumstances for government auctions it is the yield rather than the price which is bid. 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"