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Glossary: D

These are common terms used in the financial services industry

Daily charts

Charts that encapsulate the daily price movement of an instrument, for example a currency pair, index or share.

Daily settlement price

The official daily quotation for each option contract available for each delivery or cash settlement month as determined by the Exchange for the purpose of margining by the Clearing House.

Data releases

Global economic statistics that are normally released at regular intervals, often monthly. The data can have a varying impact on the financial market, depending on factors such as when it‘s released and the level of economic insight it provides.

DAX 40

A market capitalisation weighted index of the top 40 companies listed on the Frankfurt Stock Exchange in Germany. This is referred to as the ’Germany 40’ on our website and trading platform.

Day order

An order to buy or sell an instrument that will expire automatically at the end of the day if it’s not executed on the day the order has been placed.

Day trading

The process of entering and closing out trades within the same day or trading session.

Dealing spread

The difference between the buying and selling price of a contract.

Deferred settlement

Settlement in which the obligation to settle on a trade date plus two (2) business days (T+2) basis is deferred until the time following the despatch date that ASX fixes.


The funds required to initiate and maintain an open spread betting or CFD trading position. Since spread bets and CFDs are traded on margin, the deposit is only a fraction of the full value of the trade and is not the total amount that can be lost on a trade.


A fall in the value of an asset.

Designated Trading Representative (DTR)

An accredited dealer authorised to submit orders to markets.


An investment strategy that aims to manage risk through variety within an investor's trading portfolio. Different components are chosen from a range of different industry sectors, so it’s unlikely that all of the investments will fluctuate in the same direction. The idea is that the portfolio as a whole will display more consistent, stable results than any of the individual components in the portfolio.


That part of a company’s profit after tax that is distributed to its shareholders. Dividends are usually distributed in cash, but can also take the form of stocks. Also known as payouts.

Dividend Reinvestment Plan (DRP)

An alternative to cash dividends, allowing shareholders to receive new shares instead of cash.

Dividend yield

Dividend shown as a percentage of the last sale price of securities.


A dividend is a distribution of a portion of a company's earnings, decided by the board of directors, to a class of its shareholders. Dividends can be issued as cash payments, as shares of stock, or other property.

Dove, dovish

The opposite of hawk, a dove refers to an economic policy advisor supporting monetary policies with lower interest rates as a means of encouraging economic growth.

Dow Jones Industrial Average (DOW)

The Dow is the second oldest stock market index in the US and the most widely used indicator of the overall condition of the US stock market. It measures the performance of a selection of 30 blue-chip, publicly owned companies in the US.


A price trend characterised by a series of lower highs and lower lows.
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