Trading Glossary

Take a look at our list of the financial terms associated with trading and the markets.
Narrow Measure of Money Supply

M1 Money Supply = Currency in Circulation + Corporate Deposit + Resident Savings Deposit + Personal Credit Card Deposit.


On January 1st 1985, The index calculation began. It is composed of 100 of the largest local and international non-financial listed companies on the NASDAQ in the United States, which is itself a market capitalization weighted index, but balances the impact of larger market capitalization shares through some rules.  

National Futures Association

The NFA itself is a self-regulatory organization for the U.S. futures and derivatives markets. The U.S. Commodity Futures Trading Commission accepted the NFA as a registered futures association in 1981. The NFA's primary responsibility is to make derivatives markets function smoothly and perfectly, protect investors and ensure that its members meet their obligations. 

National Leverage ratio

National leverage is a measure of the debt risk an economy undertakes. Since the size of each country's economy varies greatly, leverage is used for lateral comparison. The national leverage ratio compares the size of debt to GDP, reflecting the country's debt risk, and the greater the leverage ratio, the greater the debt repayment pressure. The country's debt is generally divided into government debt, corporate debt and household debt, with their own leverage ratios; The sum of all debt and GDP is called macro leverage. 

Negative Interest on Excess Reserves

Referring to the central bank's reduction of interest rate targets to below zero, it is a special easing policy. In an extremely depressed environment, central banks may stimulate the economy through negative interest rates. Because people's money in the bank not only does not earn interest, but also needs to pay fees, so more people will spend it than save money or invest. It is important to note that long periods of negative interest rates can lead the economy into a liquidity trap. 

Net Position

Refers to the net remainder of a long and short contract on the same CFD instrument in a trading account. For example, for example, a long gold position with 2 standard lots and a short gold position with 1 standard lot, the net position is a gold long position of 1 standard lot. 

New Home Sales

Economic indicators published monthly by the U.S. Census Bureau to track new home sales across the United States. The total number of new home sales is a lagging indicator, and the randomness of new home sales is large, which often does not cause huge fluctuations in the market. 

New Taiwan Dollar

Taiwan's fiat currency, issued by the central bank. The code name is TWD.  

Noise Trading

There is no basis behind the trader's entry (e.g. fundamentals, technical aspects, etc.). This type of trader often does not know how to grasp the entry time point, does not judge the trend, and often overreacts to market news.  

Non-agricultural productivity 

Refers to one of the indicators in the non-farm report, reflecting the productivity development of the non-farm population, and measuring the average hourly output level of the non-agricultural population. The higher the non-agricultural productivity, the higher the economy, which can reflect the health of the national economy. 

Non-Farm Payrolls

Non-farm payrolls are an important part of the employment data released by the United States, which refers to changes in employment in industries other than agriculture, including manufacturing, construction, consumer goods, services and other industries. Non-farm payrolls data can directly reflect the performance of the US job market and reflect the economic situation in the United States. Therefore, non-farm data can often greatly affect the foreign exchange market. 


"Nonce" is a portmanteau of "number used only once." It is a four-bit number added to a hashed—or encrypted—block in a blockchain that, when rehashed, meets the difficulty level restrictions. The nonce is the number that blockchain miners are solving for. When the solution is found, the blockchain miner that solves it is given the block reward.


New Zealand's legal tender is one of the eight major currencies.