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contango

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account

Overview page. Subjects: Economics.

(Equities; UK).

The name given to the London Stock Exchange old method of settlement based on a number of accounting periods for the settlement of transactions. The year was...

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account day

Overview page. Subjects: Financial Institutions and Services.

Formerly, the day on which all transactions made during the previous account on the London Stock Exchange were settled. Since the account system was abandoned in 1996, transactions have to...

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backwardation

Overview page. Subjects: Economics.

A situation in which the futures price (or forward price) of a commodity is lower than the spot price. See also contango; forward and futures.

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basis

Overview page. Subjects: Economics.

1 (Futures) The difference in price between the price of the underlying asset and its futures price (cf. convergence). In a contango market where the futures prices are higher...

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cash and new

Overview page. Subjects: Economics.

On the London Stock Exchange when securities that have been purchased (sold) during the account period are sold (purchased) free of commission at the end of the account and then ...

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convenience yield

Overview page. Subjects: Economics.

The price that users of a commodity are willing to pay rather than suffer from future shortages.

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discount market

Overview page. Subjects: Economics.

In the UK, the part of the money market consisting of banks, discount houses, and bill brokers. By borrowing money at short notice from commercial banks or discount houses, bill brokers are...

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fair value of a future

Overview page. Subjects: Economics.

The value of a futures contract implied by the cost of carry and other costs associated with holding or deferring purchase of the underlying. It can be considered the equivalent ...

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flat-rate forward

Overview page. Subjects: Financial Institutions and Services.

(Commodities).

A series of forward contracts which have the same differential between the spot and the forward rate. Also known as an advanced premium forward or a stabilized...

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for the account

Overview page. Subjects: Economics.

(Equities; UK).

Type of transaction formerly possible on the London Stock Exchange (ISE) when it operated the settlement on the basis of accounts aimed at buying (selling) and...

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forward contract

Overview page. Subjects: Economics.

A contract in which a price is agreed for commodities, securities, or currencies to be delivered at a future date. A forward contract is made with an identified counter-party, and the...

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forward differential

Overview page. Subjects: Economics.

The difference in price between the cash market price and that for the same transaction carried out as a forward transaction. There will be four main elements which influence this ...

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forward discount

Overview page. Subjects: Economics.

1 (Forex) A condition for a currency where the spot foreign exchange rate is higher than the forward outright (cf. forward premium; swap points).

2 (Commo...

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forward premium

Overview page. Subjects: Economics.

1 (Forex) A condition for a currency where the foreign exchange forward rate is higher than the foreign exchange rate at spot (cf. forward discount).

2 (C...

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hedging pressure theory

Overview page. Subjects: Economics.

A theory of the price behaviour of futures that puts forward the idea that if the net demand for short hedging exceeds the demand for net long speculation, then long ...

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level price

Overview page. Subjects: Economics.

A condition where no price or yield spread exists between different maturities or market instruments (cf. flat). See backwardation; contango; yield curve.

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making-up price

Overview page. Subjects: Economics.

(UK).

The settlement price at which unpaid for securities were carried forward in to the next account period (cf. contango).

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murabaha

Overview page. Subjects: Economics.

(Banking; Islamic).

A common method used by lenders to address the prohibition on receiving interest. In this method, the lender agrees to purchase goods or services from the other...

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negative basis

Overview page. Subjects: Economics.

Where the underlying cash or spot price is below the futures price (cf. premium market). Also known as under futures. See backwardation; contango.

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new time

Overview page. Subjects: Economics.

Formerly, the purchase or sale of securities on the London Stock Exchange during the last two dealing days of an account, for settlement during the following account. The account system was...

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