A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Back Office - The customer support area for AXIOM in charge of Account setup, funds transfers into and out of the customer account, trade reconciliation issues, customer inquiries, and other activities that do not directly involve the buying or selling of a currency pair.
Balance of Payments - A systematic record of the real economic transactions during a given period for a particular country. Countries are either in a balance of payment excess or balance of payment deficit. Prolonged balance of payment deficits could lead to restrictions in capital transfers, and or decline in currency values.
Balance of Trade or Trade Balance - In general terms, the value of exports less imports for a particular country. A balance of trade deficit is when a country imports more than it exports. A balance of trade surplus is when a country exports more than it imports. If a country is in a prolonged trade deficit condition, the currency versus its trading partners should decline or weaken making the cost of imports more expensive and exports cheaper for the trading partners.
Banking day (or Business day) - Any day that commercial banks are open for business in the financial center of the country whose currency a position is taken.
Bank of Japan or BOJ - The central bank of Japan.
Base currency - The first currency in a currency pair. In the currency pair EUR/USD, the Base Currency is the EUR.
Basis point - One per cent of one per cent. The difference between 3.75% and 3.76%.
Bear market - A situation whereby there exists prolonged period of generally falling prices for a particular investment product.
Bear Squeeze - The condition in the market where investors or traders who are short an investment product are forced to cover their position because a rising market condition, has inflicted losses on the account.
Bear - An investor who believes that price of an investment product is going to fall.
Bid - The price at which AXIOM offers to buy the currency pair from a customer.
Big Figure - Refers normally to the first three digits of an exchange rate that dealers treat as understood in quoting. NOTE: A EUR/USD exchange rate of .9630 implies a "0" as the first figure. So, the price would be 0.9630 with the big figure being 0.96.
Break or Break out - Term used to describe a sudden or rapid fall in instruments pricing away from a consolidated range.
Bull market - A prolonged period of generally rising prices for a particular investment product.
Bull - An investor who believes that prices of particular investment products are going to rise.
Business Day - Any day on which commercial banks are open for business other than Saturday or Sunday in the principal financial center of the country in whose currency a position is taken.
Buy Limit - Specifies the highest price at which the purchase of the Base Currency in a Currency Pair can be executed. The limit price in a Buy limit order should be BELOW the current dealing Ask price.
Buy Stop - A Buy Stop is a Stop Order that is placed ABOVE the current dealing Ask price and is not activated until the market Ask price is at or above the Stop Price. The buy stop order, once triggered, becomes a market order to buy at the current market price.