Mine and Yours

What Does Mine and Yours Mean?

The terms "mine" and "yours" were part of the trading jargon utilized by traders and brokers to signal buy and sell preferences for securities on the trading floor. The term "mine" was a buy reference while "yours" was an indication that an individual needs to sell an order. These terms were commonly utilized with other comparable jargon in the open outcry system and were additionally utilized by traders and brokers via telephone and in voice markets. They are still commonly utilized in the foreign exchange market.

Understanding Mine and Yours

Open outcry floor pits were the pillar for stock markets before a significant number of them went totally electronic. In these markets, crowds of traders and brokers would trade with each other and contend to buy and sell in response to orders. "Mine" and "yours" were discernible approaches to quickly passing the intent on to buy or sell, individually. "Buy them" and "sold" were likewise similarly common.

For example, if a dealer in the interbank market wanted to buy a given currency, they would type or agree "mine" to a counterparty or broker. Assuming that trader chose to sell, they would agree, "yours," meaning, "it's yours." Likewise, on the off chance that a floor broker offered 100 call options at $1.00 and a market maker decided to buy them, they could shout "mine" in response to signal their intent to buy.

Both of these terms were meant to be quick and effectively justifiable. Thusly, they empowered fast and accurate transactions in a market that was frequently turbulent and fast-moving.

Special Considerations

Both the terms "mine" and "yours" are still commonly utilized today, principally found in currency markets. Also, they are as yet utilized in the very setting that they were in the open outcry system. The foreign exchange or forex (FX) market is a large and highly liquid one. As a matter of fact, it's perhaps of the most liquid market on earth where individual, institutional, corporate, and legislative investors trade currencies.

Transactions that happen in this market generally happen online. The market depends vigorously on leverage since currency pairs ordinarily experience negligible changes in value on an everyday basis, so there is much of the time a high volume of trade.

When a forex investor opens a trade, that individual or organization buys one currency and sells another. To close the deal, they do the inverse. Given the scope and complexity of numerous forex transactions, traders have developed a highly specific most widely used language that empowers proficiency and clearness in trades.

The foreign exchange market is known for having a long rundown of unmistakable dialect.

Other Jargon in Forex

A portion of the essentials of forex trading language will be recognizable to any trader or investor, despite the fact that with possibly various undertones when connected with foreign exchange markets. As interesting and clear as the terms "mine and yours" are, they belong to a long rundown of extraordinary and frequently creative shoptalk that is perceived by forex traders.

The following are a couple of other common shoptalk terms that are commonly utilized among forex traders:

A bid is the exchange rate at which a buyer will purchase the base currency in a currency pair.
The offer shows the exchange rate at which a seller will sell the base currency in a currency pair.
Going long alludes to buying a currency item with the expectation that the asset will rise in value.
Going short is selling first and afterward buying later with the expectation that the price will drop.
BTFD means to "buy the (expletive) plunge" or purchase an asset following a decline in prices.
Footsie alludes to the Financial Times-Stock Exchange 100 Share Index (FTSE 100).
Pari-passu is a Latin articulation meaning on neutral ground which connects with bondholders having parallel rights concerning a debt restructuring.
Thin is a market with less liquidity than may be expected.
Yard demonstrates a billion and offers a compact method of naming a figure that can't be mistaken for the rhyming million or trillion.

Highlights

These terms emerged during the times of open outcry pit trading, despite everything stay common in forex markets.
"Mine" and "yours" are trading terms that indicated somebody's intent to buy and sell, separately.
Traders and brokers have generally utilized jargon to signal trading data, intentions, and acknowledgments.
Given the scope and complexity of numerous forex transactions, traders have developed a highly specific most widely used language that empowers effectiveness and clearness in trades.
"Buy them" and "sold" were just as common on the trading floor.