Glossaries：M

金融商品を取引するとき、一番の壁は専門用語です。また、一般的な用語でも、株価・為替(FX, CFD), 仮想通貨などでは違う意味で使われていることもあります。そんな時に便利な用語辞典をご用意しました。取引を始めたばかりの初心者から経験者まで全ての方に片手間で調べたい時に、ささやかですが、是非参考にしてください。

When we trade financial products, the number one barrier is terminologies. In addition, even general terms we use in our lives in the financial world such as stock, forex, cryptocurrencies may have different meanings. In such a case, this site has prepared a convenient term dictionary. It’s a small thing, but please refer to it when you want to find out glossaries with one hand for all investors from beginners who have just started trading to experienced people.

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M

Macro

The longest-term trader who bases their trade decisions on fundamental analysis. A macro trade’s holding period can last anywhere from around six months to multiple years.

Maintenance Margin

The minimum margin which an investor must keep on deposit in a margin account at all times in regards to each open contract.

Make a Market

A dealer is said to make a market when he quotes both the bid and offer prices at which he stands ready to buy and sell.

Manufacturing Production

Measures the total output of the manufacturing aspect of the Industrial Production figures. This data only measures the 13 sub-sectors that relate directly to manufacturing. Manufacturing makes up approximately 80% of total Industrial Production.

Managed Float

When the monetary authorities intervene regularly in the market to stabilize the rates or to push the exchange rate in a required direction. It is also called the “dirty float”, as in India.

Margin

Collateral that the holder of a position in securities, options, Forex or futures contracts, has to deposit to cover the credit risk of his counterparty. Other definitions to MARGIN, used in other areas are:

(1) Difference between the buying and selling rates, also used to indicate the discount or premium between spot or forward.

(2) For options, the sum required as collateral from the writer of an option.

(3) For futures, a deposit made to the clearing house on establishing a futures position account.

(4) The percentage reserve required by the US Federal Reserve to make an initial credit transaction.

Margin Call

A demand for additional funds to cover positions. A demand for additional funds to be deposited in a margin account to meet margin requirements because of adverse future price movements.

Marginal Risk

The possibility that a customer goes bankrupt after entering into a forward contract. In such an event, the issuer must close the commitment, running the risk of having to pay the marginal movement on the contract.

Mark-to-Market

The profits and/or losses are tallied at the end of the session according to the closing prices of the security, and the account is “marked to the market” daily. The party will be called upon to make good the losses if there has been an adverse movement in the prices, and it can book the profits in the event there has been a favorable movement in the prices.

Mark Up

Premium.

Market Amount

The minimum amount conventionally dealt for between banks.

Market Maker

A market maker is a person or firm authorized to create and maintain a market in an instrument.

Market Order

An order to buy or sell a financial instrument immediately at the best possible price.

Market Value

Market value of a Forex position at any time is the amount of the domestic currency that could be purchased at the then market rate in exchange for the amount of foreign currency to be delivered under the Forex Contract.

MATIF

Marche a Terme International de France.

Maturity

Date for settlement of the transaction which is decided at the time of entering into the contract.

Maturity Date

(1) The last trading day of a futures contract.

(2) Date on which a bond matures, at which time the face value will be returned to the purchaser. Sometimes the maturity date is not one specified date, but a range of dates during which the bond may be repaid.

Manufacturing Production

Measures the total output of the manufacturing aspect of the Industrial Production figures. This data only measures the 13 sub-sectors that relate directly to manufacturing. Manufacturing makes up approximately 80% of total Industrial Production.

Micro Economics

The study of economic activity as it applies to individual firms or well defined small groups of individuals or economic sectors.

Mid Office

The control of the trading activity including position keeping.

Mid-Price or Middle Rate

The price half-way between the two prices, or the average of both buying and selling prices offered by the market makers.

Milliard

European term for 1,000 million.

Mine

Expression used to indicate that the contacting party is willing to buy at the rate offered by the quoting bank.

Minimum Price Fluctuation

The smallest increment of market price movement possible in a given futures contract.

Minimum Reserve

Reserves required to be deposited at central banks by commercial banks and other financial institutions, sometimes referred to as Registered Reserves.

Mio

Million.

MITI

Japanese ministry of International Trade & Industry.

Money Market

A market consisting of financial institutions and dealers in money or in credit, who wish to either borrow or lend.

Money Market Operation

Comprises the acceptance and re-lending of deposits on the money market.

Money Supply

The amount of money in the economy, which can be measured in a number of ways. In India there are four measures of money supply i.e. M1, M2, M3, M4.

Momentum

A series of technical studies (e.g. RSI, MACD, Stochastics, Momentum) that assesses the rate of change in prices.

Momentum Players

Traders who align themselves with an intra-day trend that attempts to grab 50-100 pips.

Moving Average

A way of smoothing a set of data, widely used in price time series.

Multiple Exchange Rates

Different exchange rates for different types of transaction. The South African Rand is an example.

Mutual Fund

An open-end investment company. Equivalent to unit trust.

＊These glossaries are based on easyMarkets educational tools.