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

The party who is obligated to perform if an option is exercised. To sell the foreign currency at a stated price if a call is exercised or to buy the foreign currency at a stated price if a put is exercised. The option seller is also known as the option writer or grantor.