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Lagging Indicators
Economic indicators that follow rather than precede a country's overall pace of economic activity.
Last Day of Dealing
The last Day on which you can open or close a trade in a relevant market. Not to be confused with Expiry Date.
Last Trade
Normally the last traded price in a particular market.
Last Trading Day
The final day of dealing in a spread bet before it expires. Note that the Last Trading Day is often different for different products and the actual time of expiry also varies depending on the product.
Leading Indicators
Economic indicators that change before the economy changes.
Leverage
Leverage is the ratio between the initial outlay and the equivalent position in the underlying market. Leverage is the realisation that a large return can be obtained from a relatively small outlay with risks attached. Also known as Gearing.
Liability
Debt, financial obligation or potential loss.
LIBOR
London Inter Bank Offer Rate. The reference level fixed daily at which London banks will lend money to each other.
LIFFE
London International Financial Futures and Options Exchange.
Limit Down
The maximum amount by which the price of a futures contract may fall in a trading day. This happens when an exchange enforces a temporary price floor, suspends, restricts or closes the market for a set time in order to maintain a fair and orderly market and reduce the risk of large and sudden price movements.
Limit Order
An order to buy or sell a product when it hits a certain price. A limit order is placed when you want to do a trade at a better price than the current quote. Limit orders can be filled at better levels than expected. This can occur when markets do not move smoothly. They 'gap' from one price to another at times and your limit order will be filled at the next price.
Limit Up
The maximum amount by which the price of a futures contract may rise in a trading day. This happens when an exchange enforces a temporary price ceiling, suspends, restricts or closes the market for a set time in order to maintain a fair and orderly market and reduce the risk of large and sudden price movements.
Liquid / Illiquid
The volume of business that can be transacted in the market. Highly liquid markets typically have narrow spreads and can accommodate large deal sizes. Illiquid markets have wide spreads, small deal sizes and are often erratic.
Liquidity
A measure of activity in the market. In an illiquid market, a relatively small transaction can significantly move the price. This is unlikely to happen in a liquid market.
Listing
When a share is traded on an exchange it is said to be Listed or have a Listing.
LME
London Metal Exchange (also London Mercantile Exchange).
Long
A bet taken in anticipation of a rising market. Also known as an 'up bet', to 'Go Long' or to 'Buy'.
Long Position
Having bought, but not yet sold. A long position is entered with the aim of profiting from an increase in price.
Lot
The minimum amount that can be traded in the underlying futures or options exchange. Also referred to as the 'lot size' or 'contract size'.
2,000+ Markets: Forex, Shares, Indices & Commodities
Risk Warning - Spread betting carries a high level of risk to your capital & you may lose more than your initial investment. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seek financial advice where necessary & make sure spread betting meets your investment objectives.
The above information is correct at time of writing. The spreads quoted are for Rolling Daily markets and may vary out of hours. † Tax Law can change.
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Risk Warning:
Spread Betting carries a high level of risk
to your capital and you can lose more than your initial investment,
it may not be suitable for all investors. Ensure you only
speculate with money that you can afford to lose and that you fully
understand the risks involved and seek independent financial advice where necessary.
Disclaimer:
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analysis available on this site. It is provided purely for information
purposes and is delivered as a personal view of the writer. Under no circumstances
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solicitation of any offer to buy. The website content does not constitute investment
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responsibility for any use that may be made of the content.
* Tax Free Trading:
Tax law is subject to change. It may also differ if you pay tax in a jurisdiction outside the UK.
