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The industry’s
most important terms explained.

‘Discover a wealth of financial terms and definitions that every trader should know.’

Forex Glossary

    O

    Offer (ask)
    The rate at which a dealer is willing to sell a currency. See Ask (offer) price
    Offsetting transaction
    A trade with which serves to cancel or offset some or all of the market risk of an open position.
    One Cancels the Other Order (OCO)
    A designation for two orders whereby one part of the two orders is executed the other is automatically cancelled.
    Open order
    An order that will be executed when a market moves to its designated price. Normally associated with Good ’til Cancelled Orders.
    Open position
    An active trade with corresponding unrealised P&L, which has not been offset by an equal and opposite deal.
    Order
    An instruction to execute a trade at a specified rate.
    Over the Counter (OTC)
    Used to describe any transaction that is not conducted over an exchange.
    Overnight Position
    A trade that remains open until the next business day.