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Forex Terms
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1. Clearing House Automated Payment System A forex settlement system used in the UK.
2. Clearing House Interbank Payment System An international wire system used by major banks.
3. Closed Position A transaction that offsets the number of units in a previous open position. In the case of a long position, selling the exact number of units so that your exposure in the market is zero. More…
4. Closing a Position The process of selling or buying a foreign exchange position resulting in the liquidation (squaring up) of the position.
5. Closing Market Rate The rate at which a position can be closed based on the market price at end of the day.

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