The financial definition for Net transaction exposure:
Offsetting inflows against outflows in a given currency to determine extent of exposure to risk.
Cash transaction A transaction in which exchange is immediate in the form of cash, unlike a forward contract (which calls for future delivery of an asset at an agreed-upon price).
Closing transaction Applies to derivative products. Buy or sell transaction that eliminates an existing position (selling a long option or buying back a short option). Antithesis of opening transaction.