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Post  akaishuu Sat Sep 04, 2010 3:46 am

Back Office Settlement and related processes.

Balance of Payments A systematic record of the economic transactions during a given period for a country. (1) The term is often used to mean either: (i) balance of payments on "current account"; or (ii) the current account plus certain long term capital movements. (2) The combination of the trade balance, current balance, capital account and invisible balance, which together make up the balance of payments total. Prolonged balance of payment deficits tend to lead to restrictions in capital transfers, and or decline in currency values.

Balance of Trade The value of exports less imports. Invisibles are normally excluded, and is otherwise referred to as mercantile or physical trade.

Bank Line Line of credit granted by a bank to a customer, also known as a "line"..

Bank Notes Bank notes are paper issued by the central or issuing bank and are legal tender, but are not usually considered to be part of the FX market. However bank notes can be converted, in some countries, into FX. Bank notes are normally priced at a premium to the current spot rate for a currency.

Bank Rate The rate at which a central bank is prepared to lend money to its domestic banking system.

Banking Day See trading day and value date.

Barrier Option A family of path dependent options whose pay-off pattern and survival to the expiration date depend not only on the final price of the underlying currency but also on whether or not the underlying currency breaks a predetermined price level at any time during the life of the option. See Down and Out call/put, Down and in call/put, Up and out call/put, Up and in call/put.

Base Currency The currency in which the operating results of the bank or institution are reported.

Basis Point One per cent of one per cent.

Basis The difference between the cash price and futures price.

Bear Put Spread A spread designed to exploit falling exchange rates by purchasing a put option with a high exercise price and selling one with a low exercise price.

Bear Market A prolonged period of generally falling prices.

Bear An investor who believes that prices are going to fall.
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akaishuu

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Join date : 2010-09-03

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