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Definition of Spot trade
The purchase and sale of a foreign currency, commodity, or other item for immediate delivery.
Net flow of goods (exports minus imports) between countries.
Related: Program trades.
A large trading order, defined on the New York Stock Exchange as an order that consists of
The exchange of goods for other goods rather than for cash; barter.
1) A bond in default trades flat; that is, the price quoted covers both principal and unpaid,
A member who generally trades only for his own account, for an account controlled by him or
A transaction in which the settlement will occur on a specified date in the future at a price
trades that are the result of either a reallocation of wealth or an implementation of an
trades in which an investor believes he or she possesses pertinent
Prices after the decision to trade.
Prices occurring before or at the decision to trade.
Also called basket trades, orders requiring the execution of trades in a large number of
Assets that can be traded in a public market, such as the stock market.
A member of the exchange who executes frequent trades for his or her own account.
Entering the opposite side of a currently held futures position to close out the position.
Spot exchange rates
Exchange rate on currency for immediate delivery. Related: forward exchange rate.
Spot futures parity theorem
Describes the theoretically correct relationship between spot and futures prices.
Spot interest rate
Interest rate fixed today on a loan that is made today. Related: forward interest rates.
The origination of mortgages by processing applications taken directly from prospective borrowers.
Related: cash markets
The nearest delivery month on a futures contract.
The current marketprice of the actual physical commodity. Also called cash price.
The theoretical yield on a zero-coupon Treasury security.
Spot rate curve
The graphical depiction of the relationship between the spot rates and maturity.
Terms of trade
The weighted average of a nation's export prices relative to its import prices.
Theoretical spot rate curve
A curve derived from theoretical considerations as applied to the yields of
A verbal (or electronic) transaction involving one party buying a security from another party. Once a
Written demand that has been accepted by an industrial company to pay a given sum at a future date.
Credit granted by a firm to another firm for the purchase of goods or services.
In an interest rate swap, the date that the counterparties commit to the swap. Also, the date on
A draft addressed to a commercial enterprise. See:draft.
Trade on top of
trade at a narrow or no spread in basis points relative to some other bond yield, usually
A firm which deals in actual commodities.
Persons who take positions in securities and their derivatives with the objective of making profits.
North American Free Trade Agreement (NAFTA)
an agreement among Canada, Mexico, and the United States establishing the North American Free trade Zone, with a resulting reduction in trade barriers
World Trade Organization (WTO)
the arbiter of global trade that was created in 1995 under the General Agreement on Tariffs and trade; each signatory country has one
Spot curve, spot yield curve
See Zero curve.
The current interest rate appropriate for discounting a cash flow of
spot rate of exchange
Exchange rate for an immediate transaction.
Debt levels are chosen to balance interest tax shields against the costs of financial distress.
Balance of Merchandise Trade
The difference between exports and imports of goods.
Balance of Trade
See balance of merchandise trade.
The absence of any government restrictions, such as tariffs or quotas, on imports or exports.
For immediate payment and delivery, as opposed to future payment and delivery.
Terms of Trade
The quantity of imports that can be obtained for a unit of exports, measured by the ratio of an export price index to an import price index.
Deficit on the balance of merchandise trade.
A term used for channel stuffing in the domestic tobacco industry.
A currency trades at a forward discount when its forward price is lower than its spot price.
A currency trades at a forward premium when its forward price is higher than its spot price.
Philadelphia Stock Exchange (PHLX)
A securities exchange where American and European foreign
In the market for Eurodollar deposits and foreign exchange, value date refers to the delivery date
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