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I

International Bank Account Number (IBAN) 

An IBAN number contains information detailing the country, bank and branch of the beneficiary, as well as the account number itself.

It is used to facilitate automatic processing of cross-border payments.

An IBAN can be obtained from the beneficiary's bank. An IBAN is mandatory within the EU.

If done border

An If Done order actually consists of two orders: a primary order that will be executed as soon as market conditions allow it, and a secondary order that will be activated only if the first order is executed.

In-the-Money

A call option is in the money when the market price of the underlying is above the option strike price. A put option is in the money when the strike price is above the market price of the underlying.

Index

A numerical measure of the way the price of a representative group of Stocks has changed over time. Every major exchange has one or more indices. For example, the NASDAQ exchange has the NASDAQ 100 Index (a composite of the100 largest non-financial companies listed on NASDAQ). Some indices are created and managed by private corporations, such as the Dow Jones Industrial Average and S&P 500. You can trade CFDs based on many of the world's stock market indices.

Initial margin

Initial payment paid by members to the clearing house and by clients to clearing house members to open a futures position or to write options. Initial margin covers the risk of default and is adjusted daily by calls for variation margin.

Instrument

A tradable symbol with a monetary value. This can be a Forex cross (currency pair), or a stock ticker (for CFDs and Stocks), etc.

Instrument currency

The currency the instrument is traded in

Interbank

Short-term (often overnight) borrowing and lending between banks, as distinct from a banks' business with their corporate clients or other financial institutions.

Interest

Interest is a charge applied to borrowed money, and is generally expressed as a percentage per year.

When buying CFDs, you are in principle borrowing money for a trade, so you are charged a standard interest rate based on the current LIBOR (London Interbank Offer Rate) plus a small percentage.

When you sell a CFD, on the other hand, you receive interest for the amount the CFD represents. This percentage is the LIBID rate minus a small percentage.

Interest rate differential

The yield spread between two otherwise comparable debt instruments denominated in different currencies.

Intrinsic value

The amount by which an Option is in the money. In the case of a call Option, the intrinsic value is the current price for the underlying asset, less the strike price. For a put Option, the intrinsic value is the strike price less the price for the underlying asset. If the difference between the prices is not positive in either case, then the intrinsic value is zero.