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Słownik pojęć Forex i giełdowych - od A do Z

Słownik handlu odnosi się do rodzaju strategii handlowej, w której inwestorzy korzystają z wcześniej określonego zestawu terminów, definicji lub koncepcji w celu podejmowania świadomych decyzji. Często wykorzystuje żargon branżowy, wskaźniki finansowe i narzędzia analityczne umożliwiające skuteczne poruszanie się po rynkach.

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Wszystko A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

L

Ladder strategy

A trading strategy that involves buying and selling financial instruments at different price levels to capture gains or losses.

Laotian Kip (LAK)

The kip is the national currency of Laos, carrying the ISO code LAK and issued by the Bank of the Lao PDR. It is one of the lower-valued and more thinly traded currencies in Southeast Asia, and it has a long history of depreciation against the dollar, driven by inflation, a heavy reliance on imports, and external debt pressures.

Because Laos is a small, relatively closed economy, the kip is not a currency that features on mainstream trading platforms, and in practice a good deal of larger economic activity within the country is quoted or settled in Thai baht or US dollars, which circulate widely alongside the local money. For a trader, exposure is niche and liquidity is limited.

Example: A visitor or importer dealing in Laos may find prices for larger purchases quoted in dollars or baht rather than kip, a practical sign of the use of foreign currencies for some transactions amid past weakness in the local currency.

Large-Scale Asset Purchases (LSAPs)

Large-scale asset purchases, or LSAPs, is a term the US Federal Reserve has used to describe asset purchases commonly associated with quantitative easing (QE). The mechanics are essentially the same: the central bank creates new reserves and buys financial assets in enormous quantities, chiefly Treasury securities and mortgage-backed bonds, to push down long-term interest rates and support the economy when the usual tool of cutting the short-term rate has little or no room left.

The Fed favours the LSAP label in its own communications partly because it describes the action plainly, the purchase of assets at large scale, without the loaded connotations that QE picked up over the years. Knowing that the two terms refer to the same type of policy can help avoid confusion when reading official statements.

Example: A trader parsing the minutes of a Fed meeting sees repeated references to large-scale asset purchases and reads them in the context of QE,assessing potential implications for bond yields and the dollar.

Last dealing day

The last dealing day is the final session on which a dated contract can be traded before it expires. It applies to instruments with a built-in expiry, such as futures, options, and the dated or quarterly CFDs offered on indices and commodities, rather than to open-ended cash positions. After this day the contract is closed out or moves to settlement, so a trader still holding a position has to act before the deadline: close it, or let it roll or settle according to the product’s rules.

If the deadline passes without action, the expiry may be processed automatically, and the outcome may differ from what the trader would have chosen. Brokers typically publish the last dealing day for every dated product in the contract specifications, and it is worth checking, because the date is not always the calendar month-end and can fall earlier.

Example: A trader holding a long position in a September index future sees that the last dealing day is the third Thursday of the month, and closes out the day before rather than risk the position going to cash settlement at a price beyond her control.

Last dealing time

The last dealing time is the precise cut-off on the last dealing day, after which a dated contract can no longer be traded. Where the last dealing day tells you which date the deadline falls on, the last dealing time pins down the hour and minute, and the two together define the moment trading in that contract ends. It matters because that final window is often not the platform’s normal close.

A contract might stop trading at, say, the London fix or a set exchange time hours before the rest of the session ends, leaving anyone who assumed they had until the usual close suddenly locked out. After the last dealing time passes, the position can only expire or settle.

Example: A trader plans to exit a commodity future in the afternoon, only to find the last dealing time was 12:30 that day; trading has already halted, and he can no longer close the position himself, so it proceeds straight to settlement at the official price.

Last look

A practice in which liquidity providers have the opportunity to reject trades after receiving them from market participants.

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