Base, term, contra, dealt currency
September 25, 2010
If an FX dealer quotes a currency rate – say USDCHF – as 0.9877 that means USD is the base currency and CHF the term currency. The rate quoted is CHF/USD, the number of Swiss Francs to the US Dollar. If a client trades at the quoted rate, then the dealt currency is the one that specifies the unit of the trade. So if USD is the dealt currency, and the trade size is 10,000,000 then we’re trading 10,000,000USD. Which means a trade size of 987,700CHF. In this case CHF is the contra currency.
Coding the markets 
September 25, 2010 at 10:50 pm
we dont hear from you forever and then on this normally more advanced blog we get… completely random beginners hour. wtf?! i highly doubt you have a single subscriber that is in need of this info. and if you do they’re reading above their pay grade.
September 26, 2010 at 1:41 pm
I am a beginner at FX this last week ! I will be returning to some more familiar topics in the months to come. What are your interests Fred ? I don’t ever see myself even getting to beginner level in dentistry – http://www.schwed.com 😉
September 26, 2010 at 1:41 pm
I am a beginner at FX this last week ! I will be returning to some more familiar topics in the months to come. What are your interests Fred ? I don’t ever see myself even getting to beginner level in dentistry – http://www.schwed.com 😉