Securities where value is derived from or linked to an underlying asset such as bonds, stocks and currencies.

Derivative Pricing Model

A method that analyzes several factors to propose the fair price of a futures or options contract. The best-known example is the Black-Scholes Option Pricing Model.

Descending Bottoms

A technical chart pattern where each lowest valley is lower than the previous occurrence.

Descending Tops

A technical chart pattern where each highest peak is lower than the previous occurrence.

Descending Triangle

A chart pattern for a security that is defined by the use of two Trendlines on either side of a series of high and low prices that looks similar to a triangle pointed to the right.


To remove the prevalent tendency of a segment of statistical data relative to time.


An official reduction in value of a country’s currency within a fixed exchange rate system, relative to another currency.

Diagonal Spread

A strategy that is initiated through the simultaneous purchase and sale of two options of the same type (both calls or both puts) that have different expiration and strike prices.


A charge assessed by the dealer/specialist for executing an odd lot order, represented by a fraction of a point added to the purchase price or subtracted from the sale price.


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