Day Order

An order that if not executed on the specific day is automatically canceled.

Day Trading

A Day Trading deal is a currency exchange deal which renew automatically every night at 22:00 (GMT time) starting the day the deal was made and until it ends. The deal ends in one of the following events:
1.Termination initiated by you.
2.The day trading rate has reached the Stop-Loss rate you predefined.
3.The deal end date.
As long as the deal is open, it is charged a renewal fee every night at 22:00 (GMT time).

Deal Date

The date on which a transaction is agreed upon.

Deal Ticket

The primary method of recording the basic information relating to a transaction.

Dealer

An individual or firm acting as a principal, rather than as an agent, in the purchase and /or sale of securities. Dealers trade for their own account and risk in contrast to the brokers who do trade only on behalf of their clients.

Declaration Date

The latest day or time by which the buyer of an option must intimate to the seller his willingness or unwillingness to exercise the option.

Deficit

Shortfall in the balance of trade, balance of payments, or government budgets.

Delivery

The settlement of a transaction by receipt or tender of a financial instrument or currency.

Delivery Date

The date of maturity of the contract, when the final settlement of transaction is made by exchanging the currencies. This date is more commonly known as the value date.

Delivery Risk

A term to describe when a counterparty will not be able to complete his side of the deal. This risk is very high in case of over the counter transactions where there is no exchange which can stand as a guarantee to the trade between the two parties to the contract.

Delta

The change in the value of the option premium made fully paid by the capitalisation of reserves and given relative to the instantaneous change in the value of the; underlying instrument, expressed as a coefficient.

Delta Hedging

A method used by option writers to hedge risk exposure of written options by purchase or sale of the underlying instrument in proportion to the delta.

Delta Spread

A ratio spread of options established as a neutral position by using the deltas of the options concerned to determine the hedge ratio.

Depo

Deposit

Derivatives

A broad term relating to risk management instruments such as futures, options, swaps, etc.. The contract value moves in relation to the underlying instrument or currency. The issue of derivatives and their control following large losses by banks and corporates has been subject of much debate.

Desk

Term referring to a group dealing with a specific currency or currencies.

Details

All the information required to finalize a foreign exchange transaction, i.e. name, rate, dates, and point of delivery.

Devaluation

Deliberate downward adjustment of a currency against its fixed parities or bands which is normally accompanied by formal announcement.

Direct Quotation

Quoting in fixed units of foreign currency against variable amounts of the domestic currency.

Discount

Less than the spot price example: forward discount.

Discount Rate

The rate at which a bill is discounted. Specifically it refers to the rate at which a central bank is prepared to discount certain bills for financial institutions as a means of easing their liquidity, and is more accurately referred to as the official discount rate

Domestic Rates

The interest rates applicable to deposits domiciled in the country of origin. Value and values may vary from Eurodeposits due to taxation and varying market practices.