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Financial lexicon

OECD

Organisation for Economic Cooperation and Development. The OECD was set up on 14 December 1960 and comprises 24 members seeking to coordinate their trade and social policies, promote relations with developing countries, ...

Offshore

Capital channelled into tax havens, generally via financial companies, so as to obtain the highest return possible.

Opening price

First price set for a value (or index) during a stock exchange trading session.

Option

In exchange for the payment of a premium (option price), the buyer is entitled but not obliged to buy (option call) or sell (option put) a set amount of assets (share, index, currency,...), called underlying, at a predetermined price (strike price) and during a predetermined period.

Option (American)

Option that may be exercised, as the buyer wishes, at any time up to the option date.

Option (European)

Option that may be exercised, as the buyer wishes, only on the due date.

Order at best

With this order there is no price limit, which ensures total execution but makes it impossible to manage the sales price of securities. This type of order is not recommended for illiquid securities.

Ordinary General Meeting (OGM)

Annual meeting of all a company's shareholders for the purpose of approving the accounts, distributing profits, appointing directors… Decisions are adopted by a simple majority of the votes cast by those present or represented.

OTC Open market

This market is where securities are traded that fail to meet the entry conditions for the other markets. The fact that it is not regulated to any great degree means it is a high-risk market.

OTC-BB

(Over the Counter Bulletin Board). Market for unlisted securities. This market is determined by a market maker who decides security prices. Market liquidity is very limited, hence the market's high-risk status.

Out of the Money

Situation where the strike price for an option is greater than the underlying price for a call and smaller for a put.