O
OCO ORDER (ONE CANCEL THE OTHER ORDER)
A One Cancels the Order is a Stop and Limit orders set simultaneously, whereby once either one is executed, the other is canceled. For example, an OCO may be place to close an existing position either with a Limit (take profit), or with a protective Stop (stop loss).
OFFER
The price at which a dealer is willing to sell. The Offer is also called the Ask or Ask Price.
Offered market - Temporary situation where offers exceed bid.
OLD LADY
Old lady of Threadneedle Street, a term for the Bank of England, the central bank of England.
OPEN POSITION
The difference between assets and liabilities in a particular currency. This may be measured on a per currency basis or the position of all currencies when calculated in base currency.
ORDER(S)
Customer gives directions either electronically via an online trading platform or verbally to enter into a specific foreign exchange contract with FXDD by buying or selling a specified currency pair now or at a time when the price meets the customers specific requirements.
OTC MARGINED FOREIGN EXCHANGE
Over-the-Counter (Off-exchange) Foreign Exchange markets, in which markets participants, such as FXDD and Customer, enter into privately negotiated Contracts or other transactions directly with each other for which margin is deposited and pledged against outstanding positions.
OVERNIGHT
A deal from today until the next business day.