Glossaries：S

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.

Sponsor

S

Same Day Transaction

A transaction that matures on the day the transaction takes place.

Sandwich Spread

Same as a butterfly spread.

Scalping

A strategy of buying at the bid and selling at the offer as soon as possible.

SDR

Special Drawing Right. A standard basket of five major currencies in fixed amounts as defined by the IMF.

Selling Rate

Rate at which a bank is willing to sell foreign currency.

Series

All options of the same class which share a common strike price and expiration date.

Settlement

Actual physical exchange of one currency for another.

Settlement Date

It means the business day specified for delivery of the currencies bought and sold under a Forex contract.

Settlement Price

The official closing price for a future set by the clearing house at the end of each trading day.

Settlement Risk

Risk associated with the non-settlement of the transaction by the counterparty.

Short

A market position where the client has sold a currency he does not already own, usually expressed in base currency terms.

Short Position

A shortage of assets in a particular currency. See Short Sale.

Short Contracts

Contracts with up to six months to deliver.

Short Covering

Buying to unwind a shortage of a particular currency or asset.

Short Forward Date/Rate

The term short forward refers to a period of up to two months, although it is more commonly used with respect to maturities of less than one month.

Short Sale

The sale of a currency futures not owned by the seller at the time of the trade. Short sales are usually made in expectation of a decline in the price.

Shorts

= Short Forward Date/Rate

Short-Term Interest Rates

Normally the 90 day rate

SITC

Standard International Trade Classification. A system for reporting trade statistics in a common manner.

SOFFEX

Swiss Options and Financial Futures Exchange, a fully automated and integrated trading and clearing system.

Soft Market

More potential sellers than buyers, which creates an environment where rapid price falls are likely.

Split Date

=Broken Date

Spot

(1) The most common foreign exchange transaction.

(2) Spot refers to the buying and selling of the currency where the settlement date is two business days forward.

Spot Month

The contract month closest to delivery.

Spot Next

The overnight swap from the spot date to the next business day .

Spot Price/Rate

The price at which the currency is currently trading in the spot market.

Spot Week

A standard period of one week swap measured from the current value date of the currency spot rate.

Spread

(1) The difference between the bid and ask price of a currency.

(2) The difference between the prices of two related futures contracts.

(3) For options, transactions involving two or more option series on the same underlying currency .

Square

Purchases and sales are in balance and thus the dealer has no open position.

Squawk Box

A speaker connected to a phone, often used in broker trading desks.

Squeeze

Action by a central bank to reduce supply in order to increase the price of money.

Stable Market

An active market which can absorb large sales or purchases of currency without having any major impact on the interest rates.

Stagflation

Recession or low growth (stagnation) in conjunction with high inflation rates.

Standard

A term referring to certain normal amounts and maturities for dealing.

Standard and Poor’s (S&P)

A US firm engaged in assessing the financial health of borrowers. The firm also lends its name to the S&P 500 Stock Index.

Sterilization

Central Bank activity in the domestic money market to reduce the impact on money supply of its intervention activities in the Forex market.

Sterling

British pound, otherwise known as cable.

Stocky

Market slang for Swedish Krona.

Stop Loss Order

Order given to ensure that, should a currency weaken by a certain percentage, a short position will be covered even though this involves taking a loss. Realize profit orders are less common.

Stop Out Price

US term for the lowest accepted price for Treasury Bills at auction.

Straddle

The simultaneous purchase/sale of both call and put options for the same share, exercise/strike price and expiry date.

Straight

A bond with unquestioned right to repayment of principal and interest at the specified dates with no additional further rights or bonuses.

Straight Date

= fixed dates

Strap

A combination of two calls and one put.

Strike Price

Also called exercise price. The price at which an option holder can buy or sell the underlying instrument.

Strip

A combination of two puts and one call.

Structural Unemployment

Unemployment levels inherent in an economic structure.

Support Levels

A price level at which the buying is expected to take place. When an exchange rate depreciates or appreciates to a level where (1) Technical analysis techniques suggest that the currency will rebound, or not go below; (2) The monetary authorities intervene to stop any further downward movement. See Resistance Point.

Swap

The simultaneous purchase and sale of the same amount of a given currency for two different dates, against the sale and purchase of another. A swap can be a swap against a forward. In essence, swapping is somewhat similar to borrowing one currency and lending another for the same period. However, any rate of return or cost of funds is expressed in the price differential between the two sides of the transaction.

Swap Price

A price as a differential between two dates of the swap.

Swap Rate

= Forward Margin

Swaption

An option to enter into a swap contract.

Swift

Society for Worldwide Interbank Financial Telecommunications is a Belgian based company that provides the global electronic network for settlement of most foreign exchange transactions.

Swissy

Market slang for Swiss Franc.

Switch

=Deposit Swap

Synthetics

Options or futures that create a position that is able to be achieved directly, but is generated by a combination of options and futures in the relevant market. In foreign exchange a SAFE combines two forward contracts into a single transaction where settlement only involves the difference in values.

＊These glossaries are based on easyMarkets educational tools.