Currencies Direct Foreign Exchange Jargon

Foreign exchange jargon made easy

Spot

immediate purchase of foreign exchange.

Fixed forward

fixing the foreign exchange price now for use on a specific date in the future.

Open forward

fixing the foreign exchange price now for use between a range of dates in the future.

TT

telegraphic transfer, wire payment, international payments - they are all the same. This is the quickest way to send payment to the beneficiary.

Draft

a foreign currency cheque

Market watch

tell us the rate you would like to purchase at - and let us get it for you.

Stop loss

in a falling market this is the lowest rate our client/customer would like us to buy at.

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