Gain Standard Deviation
similar to standard deviation, except this statistic calculates a mean return for only the periods with a gain and then measures the variation of only the gain periods around this gain mean. This is a measure of the volatility of upside performance.

Gamma
A measure of how fast delta changes, given a unit change in the underlying futures price.

General Partner
The manager of a limited partnership. The general partner has full responsibility for investing the capital. The general partner also bears personal liability for any lawsuits that arise from the investment's activities, but is often indemnified by the fund.

Ginzy Trading
A trade practice in which a floor broker, in executing an order - - particularly a large order - - will fill a portion of the order at one price and the remainder of the order at another price to avoid an exchange's rule against trading at fractional increments or "split ticks".

Give Up
A contract executed by one broker for the client of another broker that the client orders to be turned over to the second broker. The broker accepting the order from the customer collects a wire toll from the carrying broker for the use of the facilities. Often used to consolidate many small orders or to disperse large ones.

Global Macro
Aims to profit from changes in global economies, typically brought about by shifts in government policy which impact interest rates, in turn affecting currency, stock, markets. Participates in all major markets - equities, bonds, currencies and commodities though not always at the same time. Uses leverage and derivatives to accentuate the impact of market moves. Utilizes hedging, but leveraged directional bets tend to be the largest impact on performance.

Globex
An international electronic trading system for futures and options that allows participating exchanges to list their products for trading after the close of the exchanges' open outcry trading hours. Developed by Reuters Limited for use by the Chicago Mercantile Exchange (CME), Globex was launched on June 25, 1992, for certain CME contracts. Various MATIF (Marche a Terme International de France) contracts began trading on the system on March 15, 1993.

Gross Exposure
The total of a fund's long and short positions in relation to the assets of the fund. For example, if the fund is 80% long and 50% short, then the fund is 130% gross invested.