Hash
A function that converts an input of letters and numbers into an encrypted output of a fixed length. A hash is created using an algorithm and is essential to blockchain management in cryptocurrency.
Resources and Support
Glossary
Historical Exchange Rate
Foreign exchange rates which give traders a historical reference of how a currency pair has traded in the past.
International Financial Reporting Standards (IFRS)
The set of accounting standards developed and maintained by the International Accounting Standards Board with the intention of being applied on a globally consistent basis. Mandated for use by more than 100 countries, including the European Union and by more than two-thirds of the G20.
International Organization for Standardization (ISO)
An international standard-setting body composed of representatives from various national standards organizations across numerous industries.
ISO 20022
An ISO standard for electronic data interchange between financial institutions.
Journal Entry
Used to record a business transaction in the accounting records of a business; usually printed and stored in a binder of accounting transactions, with backup materials attached that justify the entry. This information may be accessed by the external auditors as part of their year-end investigation of a company’s financial statements and related systems.
Know Your Customer (KYC)
The process of a business verifying the identity of its clients and assessing their suitability, along with the potential risks of illegal intentions towards the business relationship.
Liquidity
The degree to which an asset or security can be quickly bought or sold in the market at a price reflecting its intrinsic value.
Machine Learning
Utilises Artificial Intelligence (AI) to provide systems with the ability to automatically learn and revise from experience, without the need for explicit programming.
Minimum Viable Product (MVP)
An early stage when developing a product that sees it released with the bare minimum functions to satisfy early adopters and allow them to provide feedback and testing for the next stage of product or service development.