EST (Eastern Standard Time)
The time zone five hours behind UTC/GMT, used during standard time in North America, Central America and the Caribbean. Often called the Eastern Time Zone, it is the reference for many US market hours.
Related terms
GMT (Greenwich Mean Time)
The reference point for all time on Earth, chosen in 1884 due to the maritime importance of Greenwich, London. FX market hours are often quoted in GMT.
Read full definitionEnd of Day Order (EOD)
An order to buy or sell at a specified price that remains open until the end of the trading day, typically 5pm New York time.
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Working Capital
The cash a business has tied up in day-to-day operations, broadly its current assets minus current liabilities. Healthy working capital lets a company pay suppliers and staff while waiting on customer payments.
Read full definitionEmerging Markets
Economies that are developing toward advanced-market status, often offering higher growth alongside greater currency, political and liquidity risk. Trading with them frequently calls for tailored FX and payment solutions.
Read full definitionAnnual General Meeting (AGM)
A formal, legally mandated gathering where a company’s shareholders meet with the board of directors and executives once a year to discuss financial performance and strategic direction. Publicly listed companies must hold AGMs to comply with corporate governance laws, while rules for private companies vary by jurisdiction.
Read full definitionAsset
An economic resource that individuals, companies and other organisations can own or control to generate profit or future benefit. In FX the term frequently refers to a currency or currency pair, and assets also underpin the pricing of derivative products such as CFDs and options.
Read full definitionBasis Point (bps)
A unit of measurement equal to 1/100th of 1%, or 0.01%, pronounced ‘bips’. Basis points are commonly used to describe small movements in interest rates, bond yields and exchange rates.
Read full definitionCapital Gains
The profit earned from selling an asset, such as stocks, bonds or real estate, for more than its purchase price. Capital gains are taxable and classified as short-term or long-term depending on the holding period.
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