Useful Abbreviations
Szymon Kopyciński · 23 September 2026
| Abbreviation |
Meaning |
| API |
Application Programming Interface |
| ATM |
At-the-money |
| BBO |
Best Bid and Offer |
| CAGR |
Compound Annual Growth Rate |
| EMS |
Execution Management System |
| ES |
Expected Shortfall |
| ETF |
Exchange-Traded Fund |
| FIX |
Financial Information eXchange |
| FOK |
Fill-Or-Kill |
| FX |
Foreign Exchange |
| GTC |
Good-Til-Cancelled |
| HFT |
High-Frequency Trading |
| IOC |
Immediate-Or-Cancel |
| IPO |
Initial Public Offering |
| ISIN |
International Securities Identification Number |
| ITM |
In-the-money |
| IV |
Implied Volatility |
| L1 |
Level 1 Market Data |
| L2 |
Level 2 Market Data |
| L3 |
Level 3 Market Data |
| LOB |
Limit Order Book |
| MBO |
Market-by-Order |
| MFT |
Medium-Frequency Trading |
| NBBO |
National Best Bid and Offer |
| NTP |
Network Time Protocol |
| OHLC |
Open, High, Low, Close |
| OMS |
Order Management System |
| OTC |
Over-the-Counter |
| OTM |
Out-of-the-money |
| PM |
Portfolio Manager |
| PnL |
Profit and Loss |
| PTP |
Precision Time Protocol |
| QD |
Quantitative Developer |
| QR |
Quantitative Researcher |
| QT |
Quantitative Trader |
| RMS |
Risk Management System |
| RTT |
Round-Trip Time |
| SWE |
Software Engineer |
| TCP |
Transmission Control Protocol |
| UDP |
User Datagram Protocol |
| VaR |
Value at Risk |
Part of Glossary Index · Previous: Production Engineering for Trading
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