Swissy

SWIFT

Society for Worldwide Interbank Financial Telecommunication (SWIFT). For more information, see IBAN and SWIFT codes

Swap

A currency swap is the simultaneous sale and purchase of the same amount of a given currency at a forward exchange rate.

Support Levels

A price level at which you would expect buying to take place.

Stop Loss Order

An order to buy or sell at the market when a particular price is reached, either above or below the price that prevailed when the order was given.

Sterling

Spread

The difference in prices between bid and offer rates.

Spot

A transaction that occurs immediately, but the funds will usually change hands within two days after deal is struck.

Short

A market position where the Client has sold a currency he does not already own. Normally expressed in base currency terms, example, short Dollars (long D. Marks).

Settlement

Actual physical exchange of one currency for another. The process by which a trade is entered into the books and records of the counterparts to a transaction. The settlement of currency trades may or may not involve the actual physical exchange of one currency for another.