A financial instrument with no intrinsic value in and of itself, which derives its value from another financial instrument, asset, index or exchange rate. Contracts for difference, options, swaps, forwards and futures are all examples of derivatives.
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Telephones and telex used for trading quotes were replaced in 1973, as Reuters introduced computer monitors.
Word of the day
"Day Order" - A trade order that is valid until the end of the given trading day, at which point it automatically expires. Day Orders are also known as Good for the Day Orders.
Most market activity occurs when at least two market centres are open at the same time.