Glossary terms beginning with L

Last dealing day

The last day you may trade a particular product

Last dealing time

The last time you may trade a particular product

Leading indicators

Statistics that are considered to predict future economic activity


A price zone or particular price that is significant technically or based on reported orders/option interest


Also known as margin, this is the percentage or fractional increase you can trade from the amount of capital you have available. It allows traders to trade notional values far higher than the capital they have. For example: leverage of 100:1 means you can trade a notional value 100 times greater than the capital in your trading account.*

Leveraged names

Short-term traders, referring largely to the hedge fund community


Potential loss, debt or financial obligation

Limit Order

An order placed with a brokerage to buy or sell a set number of shares at a specified price or better. Limit orders also allow an investor to limit the length of time an order can be outstanding before being canceled. Depending on the direction of the position, limit orders are sometimes referred to more specifically as a buy



A unit to measure the amount of the deal. The value of the deal always corresponds to an integer number of lots

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