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Value Date - For a spot transaction it is two business banking days forward in the country of the bank providing quotations which determine the spot value date. The only exception to this general rule is the spot day in the quoting centre coinciding with a banking holiday in the country(ies) of the foreign currency(ies). The value date then moves forward a day.

Value Spot - Normally settlement for two working days from today. See value date.

Variation Margin - Funds, which are requisite to carry the equity in an account back up to the initial margin level, planned on a day-to-day basis.

Volatility - A measure of the amount by which an asset price is expected to fluctuate over a given period.

Vostro Account - A local currency account maintained with a bank by another bank. The term is normally applied to the counterparty's account from which funds may be paid into or withdrawn, as a result of a transaction.

Wash trade - A matched deal which produces neither a gain nor a loss.

Wedge Chart Pattern - Chart pattern that shows a narrowing charge range over time, where price highs in an ascending wedge are incrementally fewer, or in a descending wedge, price declines are incrementally smaller. Ascending wedges characteristically finish off with a downside breakout, and descending wedges typically end with upside breakouts.

Whipsaw - Term for where a trader takes a position, then has to move against it triggering stop loss limits and liquidation of positions, then having to move in the original direction. Normally occurs in volatile markets.

Wholesale Prices - Measures the changes in prices paid by retailers for completed goods. Inflationary pressures characteristically show up here earlier than the headline retail.

Withholding Tax - It is the Income tax withdrawn from employees' wages and paid straightforwardly to the government by the employer.

Working day - A day on which the banks in a currency's principal financial centre are open for business. For FX transactions, a working day only occurs if the bank in both financial centre's are open for business (all relevant currency centers in the case of a cross are open).

X - A Nasdaq stock sign indicating that it is a mutual fund.

A-C , D-F , G-I - J-L , M-O - P-R - S-U - V-X - Y-Z