N

Naked intervention (unsterilized intervention) A central bank

intervention in the foreign exchange market that consists solely of

the foreign exchange activity. This type of intervention has a

monetary effect on the money supply and a long-term effect on

foreign exchange.

National Association of Purchasing Managers Index (NAPM) A survey of 250

industrial purchasing managers, conducted in order to gauge the

changes in new orders, production, employment, inventories, and

vendor delivery speed.

National Futures Association (NFA) A self-regulatory organization

that consists of futures commission merchants (FCMs), commodity

pool operators (CPOs), commodity trading advisers (CTAs),

introducing brokers (IBs), leverage transaction merchants (LTMs),

commodity exchanges, commercial firms, and banks. It is responsible

for certain aspects of the regulation of FCMs, CPOs, CTAs, IBs, and

LTMs, focusing primarily on qualifications and proficiency, financial

conditions, retail sales practices, and business.

Netting A process that enables institutions to settle only their net

positions with one another at the end of the day, in a single

transaction, not trade by trade.

Neural networks Computer systems that recognize patterns. They may be

used to generate trading signals or to be part of trading systems.

Neutral spread (delta-neutral spread) A compound option strategy that

consists of a long option position and a short option position whose

respective total delta positions are relatively equal.

Next best price stop-loss order A stop-loss order that must be

executed after the requested level is reached.

Nonfarm sector Jobs in government, manufacturing, services,

construction, mining, retail and others.

Nostro account (clearing account) The account for each foreign

currency in the country of origin maintained by the financial

institutions for purchase and receiving (P&R) purposes.

Naked intervention (unsterilized intervention) A central bank

intervention in the foreign exchange market that consists solely of

the foreign exchange activity. This type of intervention has a

monetary effect on the money supply and a long-term effect on

foreign exchange.

National Association of Purchasing Managers Index (NAPM) A survey of 250

industrial purchasing managers, conducted in order to gauge the

changes in new orders, production, employment, inventories, and

vendor delivery speed.

National Futures Association (NFA) A self-regulatory organization

that consists of futures commission merchants (FCMs), commodity

pool operators (CPOs), commodity trading advisers (CTAs),

introducing brokers (IBs), leverage transaction merchants (LTMs),

commodity exchanges, commercial firms, and banks. It is responsible

for certain aspects of the regulation of FCMs, CPOs, CTAs, IBs, and

LTMs, focusing primarily on qualifications and proficiency, financial

conditions, retail sales practices, and business.

Netting A process that enables institutions to settle only their net

positions with one another at the end of the day, in a single

transaction, not trade by trade.

Neural networks Computer systems that recognize patterns. They may be

used to generate trading signals or to be part of trading systems.

Neutral spread (delta-neutral spread) A compound option strategy that

consists of a long option position and a short option position whose

respective total delta positions are relatively equal.

Next best price stop-loss order A stop-loss order that must be

executed after the requested level is reached.

Nonfarm sector Jobs in government, manufacturing, services,

construction, mining, retail and others.

Nostro account (clearing account) The account for each foreign

currency in the country of origin maintained by the financial

institutions for purchase and receiving (P&R) purposes.