Daily Cut-off
Categories: International, Trading
Since foreign exchange markets are open 24 hours a day, seven days a week, in all different time zones, it becomes difficult to define when one day ends and another one begins. So a daily cut-off is set.
It's a specific point in time to establish the end of the current trading day and the beginning of a new one. That way, if you're trading in New Zealand as well as the U.S., you'll be able to understand the official date your trade took place.