Around Dealer jargon used in quoting when the forward premium/discount is near parity. For example, “two-two around” would translate into 2 points to either side of the present spot.

Ask Rate The rate at which a financial instrument if offered for sale (as in bid/ask spread).

Asset Allocation The purchase or sale of an instrument and simultaneous taking of an equal and opposite position in a related market, in order to take advantage of small price differentials between markets.

Arbitrage Investment practice that divides funds among different markets to achieve diversification for risk management purposes and/or expected returns consistent with an investor’s objectives.

B

Back Office The departments and processes related to the settlement of financial transactions.

Balance of Trade The value of a country's exports minus its imports.