Futures and Forex Glossary Dictionary JKL

Japanese Housewives

Terminology created by financial press which refers to Japanese households who became major sellers of Yen by speculating on the carry trade. Consequently, currency price levels as forecast by financial institutions turned out to be inaccurate.

Japanese Yen (JPY)

Japanese currency unit. Related Term: Base Currency

Jean Claude Trichet

President of the European Central Bank

Jim Crammer

Founder of the popular financial website TheStreet.com and well known for his recommendations and analysis of stock markets.


A currency trader who focuses on making small profits during a trading session but refrains from carrying the position to the next day.

Jurisdiction Risk

Risk of loosing funds deployed within the jurisdiction of a foreign authority.


A stock with no voting right as indicated by a Nasdaq stock symbol. Related Term: Nasdaq

Key Currency

Method by which smaller countries orient their currencies to that of a major trade partner or a block of trade partners.

Kill or Fill

A currency trading order that tends to get cancelled or killed in the event of not getting filled, as partial filling was not permissible. Example: Limit orders requiring immediate settlement.


Slang for New Zealand dollar.

Ladder Option

An option that freezes profits once predetermined price levels are reached. The frozen profits remain guaranteed for payout even if the price takes a beating before the expiry date of the option. Related Term: Asset-or-Nothing Call Option

Lagging Indicator

A technical indicator that is used to reaffirm the strength of a currency trend. Related Term: Chikou Span

Last Trading Day

The last trading day in a specific futures or options contract as per the exchange’s rules of trading. Outstanding contracts must be settled by delivery at the end of last trading day