Forex Glossary

BLS

BLS stands for the Bureau of Labor Statistics.

Forex Broker

A Forex broker is an individual or a firm that acts as an intermediary, putting together buyers and sellers for a fee or a commission. In contrast, a dealer commits capital and takes one side of a position, hoping to earn a spread by closing out the position in a subsequent trade with another party.

Bretton Woods Agreement of 1944

The Bretton Woods agreement of 1944 is an agreement that established fixed foreign exchange rates for major currencies, provided for central bank intervention in the currency markets, and pegged the price of gold at 35 USD per ounce. The agreement lasted until 1971, when President Nixon overturned the Bretton Woods agreement and established a floating exchange rate for the major ...

CFTC

The CFTC is the 'Commodity Futures Trading Commission'.

Forex Clearing

Clearing is the process of settling a trade.

CME

CME stands for the 'Chicago Mercantile Exchange'.

Forex Contagion

A contagion is the tendency of an economic crisis to spread from one currency market to another (e.g. the Asian Contagion).

At Best

'At best' is an instruction given to a dealer to buy or sell at the best rate that can be obtained.

Forex Call

A call is an option to purchase a currency in the Forex market.

Cambist

A cambist is an expert trader who rapidly buys and sells currency throughout the day.