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Trading Terms

Business day and non-business day

A business day is any day that is not a non-business day. This includes weekdays, typically Monday through Friday. On the other hand, a non-business day refers to any Saturday or Sunday, as well as bank holidays that are not considered part holidays under 'The Banking Act 1908'. This also includes any day where a bank's premises are not open for business. Understanding these terms is crucial for navigating the financial world with ease.

Sight draft (sight bill)

A crucial aspect of understanding financial instruments is recognizing the concept of demand or presentation. Essentially, this refers to the requirement for the holder of t...

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Confirmation of documentary credit

When a beneficiary receives a documentary credit, they may have concerns about the issuing bank's credibility or the buyer's country's economic stability. In such cases, they...

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Eurocurrency

Foreign currency, also known as a foreign exchange or forex, refers to any currency that is used or traded outside the country of origin. This can include both physical curre...

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Bar Chart

Bar charts are a common tool in finance that visually represent the fluctuation of prices over a given period of time. These charts consist of vertical bars that show the hi...

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