Glossary
D
Day Order
A buy or sell order that will expire automatically at the end of the trading day on which it is entered.
Day Trade
A trade opened and closed on the same trading day.
Day Trader
A trader who buys and sells on the basis of small short-term price movements.
Day Trading
Refers to a style or type of trading where trade positions are opened and closed during the same day.
Dealer
An individual or firm that acts as a principal or counterpart to a transaction. Principals take one side of a position, hoping to earn a spread (profit) by closing out the position in a subsequent trade with another party. In contrast, a broker is an individual or firm that acts as an intermediary, putting together buyers and sellers for a fee or commission.
Deficit
A negative balance of trade or payments.
Deflator
Difference between real and nominal Gross National Product, which is equivalent to the overall inflation rate.
Delivery
The settlement of a transaction by receipt or tender of a financial instrument or currency.
Delivery date
The date of maturity of the contract, when the exchange of the currencies is made This date is more commonly known as the value date in the FX or Money markets.
Depreciation
A fall in the value of a currency due to market forces.
Derivative
A contract that changes in value in relation to the price movements of a related or underlying security, future or other physical instrument. An Option is the most common derivative instrument.
Devaluation
The deliberate downward adjustment of a currency's price, normally by official announcement
Direct quotation
Quoting in fixed units of foreign currency against variable amounts of the domestic currency. | 
