Glossary
Popular definitions
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Last dealing dayThe last day you may trade a particular product.
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Last dealing timeThe last time you may trade a particular product.
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LevelA price zone or particular price that is significant from a technical standpoint or based on reported orders/option interest.
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Leveraged namesShort-term traders, referring largely to the hedge fund community.
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LiabilityPotential loss, debt or financial obligation.
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LIBORLIBOR is a leading interest rate benchmark, set each day according to estimates from up to 18 global banks. It stands for London Interbank Offered Rate. There are LIBOR rates for multiple different currencies: including GBP, USD, EUR and more.
LIBOR is calculated by surveying banks to find out the rates they would charge each other on loans of various maturities, based on the current economic outlook. The LIBOR rate is an average of what the banks will charge each other, and is then used across the global financial system, particularly for pricing derivatives.
Usage of LIBOR (and other IBORs) is being phased out, to be replaced with a near-risk-free rate (RFR). -
LongsTraders who have bought a product.
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LoonieNickname for the Canadian dollar or the USD/CAD (US dollar/Canadian dollar) currency pair.
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LotA unit to measure the amount of the deal. The value of the deal always corresponds to an integer number of lots.