contango (k[schwa]n-tang-goh).Securities. 1. A market in which long-term futures or options contracts sell at a premium over short-term contracts. — Also termed normal market. 2. The premium so paid. • The premium paid for securities with longer maturities reflects the cost of holding the commodity for future delivery.
spread, n. 1. Banking. The difference between the interest rate that a financial institution must pay to attract deposits and the rate at which money can be loaned. 2. Securities. The difference between the highest price a buyer will pay for a security (the bid price) and the lowest price at which a seller will
trading. The business of buying and selling, esp. of commodities and securities. [Cases: Commodity Futures Trading Regulation 11; Securities Regulation 35.10–67.15. C.J.S. Securities Regulation §§ 103–241, 273, 456.] day trading. The act or practice of buying and selling stock shares or other securities on the same day, esp. over the Internet, usu. for the purpose
take delivery. To receive something purchased or ordered; esp., to receive a commodity under a futures contract or spot-market contract, or to receive securities recently purchased.
commodity exchanges 商品交易所 商品市场中心，除拍卖外，既有现货交易，也有期货交易。现货交易者可以即期交货，也可远期交货。期货交易者则签订合同，在规定的未来日期以规定的价格买卖某种标准等级的货物，套头交易的主要目的是避免(或减少)价格变动带来的风险。在英国，位于伦敦商业中心区的伦敦商品交易所〔London Commodity Exchange〕是各种商品交易(包括期货交易)的中心场所。在美国，最重要的商品交易所是芝加哥交易所〔Chicago Board of Trade〕和芝加哥商业交易所〔Chicago Mercantile Exchange〕，两者均交易多种不同商品。 (→Commodity Futures Trading Commission)
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secret seven 〈美〉七个秘密机关 1978年《公共事业法》〔Common Cause〕确定的47个联邦机构中最严重违反《联邦阳光法》〔Federal Sunshine Law〕的七个机构。《联邦阳光法》规定所有联邦机构的会议必须向公众公开。这些机构是：１进出口银行〔Export-Import Bank〕;２国家劳资关系委员会〔National Labor Relations Board〕；３职业安全与健康复审委员会〔Occupational Safety and Health Review Commission〕;４美国假释委员会〔United States Parole Commission〕;５联邦储备委员会〔Federal Reserve Board〕;６商品期货交易委员会〔Commodity Futures Trading Commission〕和７联邦住宅贷款银行委员会〔Federal Home Loan Bank Board〕。
front-running, n. Securities. A broker’s or analyst’s use of nonpublic information to acquire securities or enter into options or futures contracts for his or her own benefit, knowing that when the information becomes public, the price of the securities will change in a predictable manner. • This practice is illegal. Front-running can occur in many
leverage contract. An agreement for the purchase or sale of a contract for the future delivery of a specified commodity, usu. silver, gold, or another precious metal, in a standard unit and quantity, for a particular price, with no right to a particular lot of the commodity. • A leverage contract operates much like a
An option to buy something (esp. securities) at a fixed price even if the market rises; the right to require another to sell. — Often shortened to call. [Cases: Commodity Futures Trading Regulation 10; Securities Regulation 5.25(3). C.J.S. Securities Regulation §§ 28–29, 455, 470.]
London commodity option. An agreement to buy or sell a futures contract for a commodity traded on the London markets, for a particular price and within a particular time.
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