Glossary

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LIBOR (London interbank offered rate)
An interest rate at which banks can borrow funds, in marketable size, from other banks in the London interbank market. The LIBOR is fixed on a daily basis by the British Bankers' Association.

Leverage
Relations between the loan and the trading operation volume: 1:20, 1:40, 1:50, 1:100. Leverage 1:100 means that in order to make a deal it's necessary to have on trading account a sum of money that is 100 times less than a deal sum.

Listed stocks
Stocks that are traded on an exchange.

Locked positions
Long and short position of equal volume, opened on one and the same instrument on one trading account.

Long
An open buy position (Buy).

Lot
The standardized quantity of a financial instrument as set out by an exchange or similar regulatory body.

Low price
The day's lowest price of a security.