Indirect quote is a currency quotation in foreign exchange market that expresses the variable amount of foreign currency needed to purchase or sell off fixed units of domestic currency.

 

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Quid pro quo, a Latin term manning "something for something,". Used when two parties are engaged in a mutual agreement to exchange goods or services with one another.

 

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Volatility smile is a common graph shape that can occur when plotting the strike price and implied volatility of a group of options with the same underlying asset and expiration date. 

 

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