Decentralized Exchange (DEX)
A decentralized exchange is a blockchain application that enables asset trading through smart contracts without a traditional centralized matching custodian. For reliable…
Markets, Finance & Liquidity
Markets, trading, liquidity, decentralized finance and financial concepts.
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Terms (106)
Effective Spread
Effective Spread is an execution-cost measure that compares the actual trade price with the prevailing midpoint of the bid and ask quotes,…
Exchange Liquidity
Exchange Liquidity is the executable capacity available on a particular trading venue to complete orders near prevailing prices without excessive delay or…
Exchange Rate
An exchange rate expresses the quantity of one currency or asset required to obtain a unit of another currency or asset. Operators…
Exchange Rate Lock
Exchange Rate Lock is an agreement or system control that fixes a currency or asset conversion rate for a defined amount and…
Exchange Rate Risk
Exchange Rate Risk is the possibility that changes in currency or asset exchange rates alter the value, cost, margin, or settlement outcome…
Foreign Exchange Settlement
Foreign exchange settlement completes the delivery of the two currencies owed under an FX trade or conversion. The process must coordinate both…
Funding Liquidity
Funding Liquidity is the ability of an organization to obtain and use funds when due so that it can meet payment, settlement,…
Futures Commission Merchant
A futures commission merchant is a regulated intermediary that solicits or accepts futures-related orders and holds customer funds for margin or settlement.…
FX Spread
FX spread is the difference between the buying and selling exchange rates quoted for a currency pair by a venue or provider.…
Gross Payment Volume (GPV)
Gross payment volume is the total monetary value of payment transactions processed during a period before refunds, reversals, fees, or other deductions.…
Interest Payment
An interest payment is a scheduled or accrued transfer made to compensate a lender or investor for the use of principal. For…
Intraday Liquidity
Intraday Liquidity is funds and funding capacity available during a business or settlement day to meet time-specific payment, clearing, collateral, and settlement…
Limit Order
Limit Order is an instruction to buy no higher than a specified price or sell no lower than a specified price, subject…
Limit Order Book
Limit Order Book is the organized record of active buy and sell limit orders, usually grouped and prioritized by price and time.…
Limit-on-Close Order
Limit-on-Close Order is an instruction to participate in a market’s closing process only at the specified limit price or better. It combines…
Limit-on-Open Order
Limit-on-Open Order is an instruction to participate in a market’s opening process only at the specified limit price or better. It combines…
Liquidity
Liquidity is the ability to buy, sell, convert, transfer, or fund an obligation quickly without excessive cost or price impact. Useful assessment…
Liquidity Aggregation
Liquidity Aggregation is the process of combining prices, depth, balances, or executable access from multiple liquidity sources into a coordinated view or…
Liquidity Buffer
Liquidity Buffer is a cushion of readily accessible funds or highly liquid assets held above expected needs to absorb short-term timing differences,…
Liquidity Coverage
Liquidity Coverage is the extent to which available liquid resources are sufficient to meet expected and stressed cash or asset outflows over…
Liquidity Depth
Liquidity Depth is the amount of executable buying or selling interest available across price levels before a trade causes a specified degree…
Liquidity Forecasting
Liquidity Forecasting is the estimation of future liquidity needs and available resources across time, currencies, assets, accounts, venues, and settlement systems. It…
Liquidity Fragmentation
Liquidity Fragmentation is the distribution of liquidity across multiple venues, networks, pools, custodians, currencies, accounts, or market segments instead of one directly…