Sébastien Haller

The number of units of product in a contract or lot.

US government-issued debt which is repayable in ten years. For example, a US 10-year note.

A technique used in technical analysis that indicates a specific price ceiling and floor at which a given exchange rate will automatically correct itself. Opposite of resistance.

09:00 – 18:00 (JST).

A temporary halt in the trading of a product.

A price that acts as a floor for past or future price movements.

A market whereby products are traded at their market price for immediate exchange.

The Sterling Overnight Index Average (SONIA) is the effective overnight interest rate that banks pay to borrow sterling overnight from other financial institutions. It’s used for overnight funding of trades that occur in off-hours and indicates the depth of business in the marketplace in these hours. SONIA is calculated using data from banks across the UK on any transactions completed in the previous trading day. The BoE filters out unusual patterns and calculates a weighted average of all transactions over £25 million. The top and bottom 25% are removed, and a mean is taken from the middle 50%. This is rounded to the nearest four decimal places, which is the SONIA rate.

Refers to central banks active in the spot market.

The current market price. Settlement of spot transactions usually occurs within two business days.