Open Order
An order to buy or sell when a market moves to its designated price.
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O · Trading glossary
12 termsOpen Position
A deal not yet reversed or settled and the investor is subject to exchange rate movements.
Order
An instruction, from a client to a broker to trade. An order can be placed at a specific price or at the market price. Also, it can be good until filled or until close of business.
Overnight
A trade that remains open until the next business day.
Over The Counter (OTC)
Used to describe any transaction that is not conducted over an exchange.
Offer
The price at which a seller is willing to sell. The best offer is the lowest such price available.
Offset
The closing-out or liquidation of a futures position.
Off-shore
The operations of a financial institution which although physically located in a country, has little connection with that country's financial systems. In certain countries a bank is not permitted to do business in the domestic market but only with other foreign banks. This is known as an off shore banking unit.
Overnight limit
Net long or short position in one or more currencies that a dealer can carry over into the next dealing day. Passing the book to other bank dealing rooms in the next trading time zone reduces the need for dealers to maintain these unmonitored exposures.
Option
A financial derivative that gives the holder the right, but not the obligation, to buy or sell an underlying asset at a specified price within a predetermined time frame.
Oscillator
A technical analysis indicator that fluctuates above and below a central line to indicate overbought or oversold conditions in a security's price.
Offsetting Transaction
A trade that serves to cancel or offset some or all of the market risk of an open position.
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