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Financial Glossary

OECD)

An international organization helping governments tackle the economic, social and governance challenges of a global economy

OFFER

The price at which a seller is willing to sell

OFFERED MARKET

Temporary situation where offers exceed bids

OFFERING MEMORANDUM

A document that outlines the terms of securities to be offered in a private placement

OFFSET

The closing-out or liquidation of a position

OFF-SHORE

The operations of a financial institution that although physically located in a country, has little connection with that country's financial systems

OMNIBUS ACCOUNT

An account maintained by one broker with another in which all of the accounts of the former are combined and carried only in its name, rather than designated separately

OPEN INTEREST

The total number of outstanding option or futures contracts that have not been closed out by offset or fulfilled by delivery

OPEN MARKET COMMITTEE

Same as Federal Open Market Committee

OPEN MARKET OPERATIONS

Central Bank operations in the markets to influence exchange and interest rates

OPEN POSITION

A position that is not yet closed

OPTION CLASS

Options of the same type as said to be of the same class

OPTION SERIES

All options of the same class having the same exercise/strike price and expiry

OPTION)

The right, but not the obligation, to buy (call) or sell (put) a specific amount of a given stock, commodity, currency, index, or debt, at a specified price (the strike price) during a specified period of time

OTC

Over-the-Counter; A security which is not traded on an exchange

OUT-OF THE MONEY

A call option whose strike price is higher than the market price of the underlying, or a put option whose strike price is lower than the market price of the underlying

OVER BOUGHT

Technically too high in price, and hence a technical correction is expected

OVERNIGHT LIMIT

Net long or short position in one or more currencies that a dealer can carry over into the next dealing day

OVERNIGHT

A deal from today until the next business day

OVER THE COUNTER

See OTC

OVER SOLD

Technically too low in price, and hence a technical correction to the upside is expected

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