CORPORATE & INSTITUTIONAL GLOSSARY

Odd Dates

Off-Balance Sheet Lease/Operating Lease

Offer

Open Account

Open Cargo Insurance Policy

Open Position

Option

Option Buyer

Option Contract

Option Seller

Optional Dividend

Originating Depository Financial Institution (ODFI)

Out-Of-The-Money

Outright Forward Exchange

A contract for the purchase or sale of a certain amount of foreign currency at a specific price up to and including a certain time on the expiration date. For the payment of a fee, called the premium, the purchaser/seller may or may not exercise the contract. Not the same as a variable delivery date contract.