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Trading Terms

Business day and non-business day

A business day is any day that is not a non-business day. This includes weekdays, typically Monday through Friday. On the other hand, a non-business day refers to any Saturday or Sunday, as well as bank holidays that are not considered part holidays under 'The Banking Act 1908'. This also includes any day where a bank's premises are not open for business. Understanding these terms is crucial for navigating the financial world with ease.

Frequency Distribution

A frequency chart is a visual representation of the occurrence of an event for various values of a variable. The y-axis represents the frequency, while the x-axis displays t...

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Qualified acceptance

Acceptance of a bill of exchange can take on various forms, each with their own unique conditions and implications. A conditional acceptance is one where payment is dependent...

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Outright

It An outright (forward) is a financial transaction that involves buying or selling foreign currency for delivery at a future date, typically beyond two working days. This e...

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Bank guarantee

A demand guarantee is a contractual agreement between a bank acting as a guarantor and a beneficiary. It outlines the bank's commitment to pay a predetermined sum under spec...

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