Forex Glossary - O -

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Offer: The rate at which a seller is prepared to sell at.

Offered Market: A temporary situation where offers will exceed the bids.

Open Interest: This is the total number of futures contract that has not been fulfilled by delivery.

Open Order: Order that remains active unless closed or cancelled by customer.

Open Market Operations: It is the operation of the central banks in the market to influence exchange and interest rates.

Open Position: The transaction of buying or selling a currency that has not yet been closed by the customer.

Order: Instructions sent by customer to broker to buy or sell a currency.

OTC: Over the Counter is considered an unregulated exchange where transactions are conducted directly between dealers and principals.

Oscillators: Quantitative method that distinguishes between overbought and oversold conditions.

Overnight Position: A position that is kept overnight by a trader.