If securities are not specifically identified the FIFO method will be used to identify the security to be sold.

WHITEHOUSE: M-03-01, Business Rules for Intragovernmental Transactions, Attachment B | The White House

There is no formal process by which that occurs, however, something he wants an ongoing parliamentary inquiry on Fifo to address.

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And as you know, there is a convergence here in terms of reporting requirements towards FIFO -- first in, first out -- as opposed to last in, last out.

WHITEHOUSE: Press Briefing

American forex traders are being forced to trade with no more than 50:1 leverage on the major currencies (20:1 on minors), FIFO (no hedging rule) and without any form of money protection.

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Some Americans insist on keeping a foreign broker to retain 200:1 leverage and spread betting, rather than succumb to CFTC rules capping leverage at 50:1 on majors and 20:1 on minors plus FIFO.

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Secondly, on -- forgive me for doing the Bloomberg thing -- LIFO and FIFO -- this is about regularizing a situation so that, for example, oil and gas companies who deal in commodities that fluctuate in price.

WHITEHOUSE: Press Briefing