A transaction that is not liquidated by physical payment or closed by another transaction of equal size and opposite direction.

It is a physical unpaid agreement.

The price at which traders can buy from a currency.

It is the difference between the bid and ask prices and is a measure of market liquidity. Low spreads usually mean high liquidity.

It is the currency used by the investor in accounting records. In the Forex market, this unit is generally US dollars, but British Pound, Euro and Australian Dollar can also be used.

The process of simultaneously buying or selling an instrument and taking an equal and opposite position in a linked market in order to take advantage of small price differences between markets.

It means the price at which the trader is ready to sell.

It is the central bank of the European Monetary Union. (AMB)

Market conditions where prices lose value.

A person or institution that serves as an intermediary. It brings together buyers and sellers for a fee or commission. In contrast, a 'seller' takes a portion of a position by placing money. The hope in this is to make a difference (profit) by closing the position with the next trade in another lot.

It is the German Central Bank.

A situation where there is a negative balance for a transaction or payment.

The slang word for the British Pound / US Dollar rate.

The monetary value of all transactions realized in a certain time period is called turnover.

The exchange rate between two currencies that do not include the US dollar is called the cross rate.