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Value Date |
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Settlement date of a spot or forward deal. |
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Variable Limits |
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A Chicago Board of Trade price limit system that allows for larger than normally allowable price movements under certain circumstances. Those circumstances are as follows: if three or more contracts within a contract year (all contracts in a contract year if there are less than three open contracts) close on the limit bid (lower) for three successive business days then the limit would become 150 percent of the current level for all contract months and remain there for three successive business days.
However, in financial instrument futures, if three or more contracts within a contract year (or all contracts in a contract year if there are less than three open contracts) close on the limit bid for one business day or the limit seller for one business day, then the limit would be raised to 150 percent of the current level for all contract months and remain there for three successive business days.
If three or more contract months (or all contracts in a contract year if there are less than three open contracts) in a given contract year close on the limit bid for the next three business days or on the limit sellers for three successive business days, then the limits will remain at 150 percent of the original level for another three-day period.
The limits would remain at 150 percent for successive periods of three business days until three or more contracts in a year (or all contracts in a contract year if there are less than three open contracts) do not close at the limit on one day during that period. If, at any time during a three-day business period, the three or more contract months (or all contracts in a contract year if there are less than three open contracts) do not close on the limit bid or limit sellers then the limits would revert to their original level at the end of the three-day period.
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Variation Margin |
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Funds required to be deposited by a Client when a price movement has caused funds to fall below the IFX margin requirement. Conversely funds may be withdrawn by a Client when a price movement has caused funds to rise above the IFX margin requirement. |
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>Variation Margin Call |
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A call for additional margin deposits made by a clearinghouse to a clearing member while trading is in progress when current price trends have substantially reduced the clearing member's margin deposits. Variation calls are payable within the hour. |
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Venture Capital |
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Moneys not needed for routine living expenses and basic savings that are available for purposes of investing or speculating. |
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Volatility |
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A measure of price fluctuations |
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Volatility |
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The characteristic of a security or market to fall or rise sharply in price in a short-term period.
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VIX |
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The CBOE's volatility index. |
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Volume |
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Number of shares traded in a company or an entire market during a given period.
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