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We have compiled this glossary from a number of sources to help you understand commonly used terms in the futures industry and our markets.

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Ask Price

The price at which the market is prepared to sell a specific currency in a foreign exchange contract or cross currency contract. At this price, the trader can buy the base currency.

In the quotation, it is shown on the right side of the quotation. For example, in the quote USD/CHF 1.4527/32, the ask price is 1.4532; meaning you can buy one U.S. dollar for 1.4532 Swiss francs.


The purchase or sale of an instrument and simultaneous taking of an equal and opposite position in a related market, in order to take advantage of small price differentials between markets.


A currency is said to appreciate when it strengthens in price in response to market demand.

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