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| IMF | International Monetary Fund, established in 1946 to provide international liquidity on a short and medium term and to encourage the liberalization of exchange rates. The IMF supports countries with balance of payments problems with the provision of loans
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| IMM | International Monetary Market is part of the Chicago Mercantile Exchange that lists a number of currency and financial futures contracts
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| Implied Volatility | A theoretical value designed to represent the volatility of the underlying instrument as determined by the price of the option. The factors that affect implied volatility are the exercise price, the rate of return, maturity date and the price of the option
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| Implied Volatility Skews | The historical rate at which the price of an underlying currency or security moves up and down
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| In-the-Money | A call option is in-the-money if the price of the underlying instrument is higher than the exercise/strike price. A put option is in-the-money if the price of the underlying instrument is below the exercise/strike price. Such options have intrinsic value
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| Inconvertible Currency | Currency which cannot be exchanged for other currencies, because this is forbidden by the foreign exchange regulations
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| Indicative Quote | A price which is quoted but is not firm
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| Industrial Production | An indicator measuring physical output of manufacturing, mining and utilities
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| Inflation | The overall general upward price movement of goods and services in an economy, usually as measured by the Consumer Price Index and the Producer Price Index
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| Initial Margin | The amount of cash collateral required by a brokerage firm to be deposited before buying or selling on margin
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| Inter-Bank Rates | The bid and offer rates at which international banks place deposits with each other
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| Interest Rate Options | An option contract whose underlying security is a debt obligation
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| Interest Rate Floor | The minimum interest rate that could be charged
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| Interest Rate Swaps | An agreement to swap interest rate exposures from floating to fixed or vice versa. There is no swap of the principal. It is the interest cash flows that are exchanged, whether they are payments or receipts
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| Intervention | Action taken by a central bank to affect the value of its currency
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| In the Money | A call option is in the money when the strike price is less than the current price of the underlying instrument. A put is when the strike price is greater
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| Intra Day Position | An open position that is usually squared off by the close of the day
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| Intrinsic Value | The amount by which an option is In-the-money. The intrinsic value is the difference between the exercise price and the price of the underlying instrument
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