base currency - also known as the domestic or accounting currency (e.g. the euro is the base currency in EUR/USD)
bid/ask spread - the difference between the highest price a buyer is willing to pay and the lowest price a seller is willing to accept
cash delivery - also known as same day delivery, is when the transaction delivery and settlement occur on the same day
clearing - when a trader Hedges a number of items against one another and makes fund transfers on the net balance as part of the settlement process.
commodity block currency - a currency whose price moves in the direction of a certain commodity
figure - a round number like 1.600000
pip - each unit between the bid and ask prices
swap - The amount paid or received as a result of interest rate differences between the two currencies you're trading (if held overnight). For example, if you're long EUR/USD and dollar interest rates are less than the euro, you're paid the swap (you're debited if you went short EUR/USD).
yard - a billion units
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