Resources

OECD

An international organization helping governments tackle the economic, social and governance challenges of a global economy.

OFFER

The price at which a seller is willing to sell.

OFFERED MARKET

Temporary situation where offers exceed bids.

OFFERING MEMORANDUM

A document that outlines the terms of securities to be offered in a private placement.

OFFSET

The closing-out or liquidation of a position.

OFF-SHORE

The operations of a financial institution that although physically located in a country, has little connection with that country's financial systems.

OMNIBUS ACCOUNT

An account maintained by one broker with another in which all of the accounts of the former are combined and carried only in its name, rather than designated separately.

OPEN INTEREST

The total number of outstanding option or futures contracts that have not been closed out by offset or fulfilled by delivery.

OPEN MARKET COMMITTEE

Same as Federal Open Market Committee.

OPEN MARKET OPERATIONS

Central Bank operations in the markets to influence exchange and interest rates.

OPEN POSITION

A position that is not yet closed.

OPTION

The right, but not the obligation, to buy (call) or sell (put) a specific amount of a given stock, commodity, currency, index, or debt, at a specified price (the strike price) during a specified period of time OTC Over-the-Counter; A security which is not traded on an exchange.

OPTION CLASS

Options of the same type as said to be of the same class.

OPTION SERIES

All options of the same class having the same exercise/strike price and expiry.

OTC

Over-the-Counter; A security which is not traded on an exchange.

OUT-OF THE MONEY

A call option whose strike price is higher than the market price of the underlying, or a put option whose strike price is lower than the market price of the underlying.

OVER BOUGHT

Technically too high in price, and hence a technical correction is expected.

OVER SOLD

Technically too low in price, and hence a technical correction to the upside is expected.

OVER THE COUNTER

See OTC.

OVERNIGHT

A deal from today until the next business day.

OVERNIGHT LIMIT

Net long or short position in one or more currencies that a dealer can carry over into the next dealing day.