OCO-One Cancels the Other Order

A combination of two orders in which the execution of either one automatically cancels the other.

Open Market

The reopening of the market after the close of the session, weekends and holidays.

Open order

Buy or sell order that remains in force until executed or cancelled by the customer.

Open position

Any position (long or short) that is subject to market fluctuations and has not been closed out by a corresponding opposite transaction.

Order

A client�s order to buy or sell a certain amount at a given rate.

Overnight

An open position transfer to the next day.

Overnight position

Trader's long or short position in a currency at the end of a trading day.