||An order to buy or sell a futures contract at whatever price is obtainable when the order reaches the trading floor. Also called a Market Order.
||A market in which the price of a security is determined by supply and demand, through a continuous auction. Exchanges are auction markets.
||The record of trading information identifying for example, the brokers participating in each transaction, the firms clearing the trade, the terms and time of the trade, and, ultimately and when applicable, the customers involved.
||The public accountant's statement as to the scope of the review of the books and records of the corporation and the accountant's opinion as to the accuracy of the financial statements (i.e., unqualified or to some degree qualified approval).
||The exercise by the clearing house of an in-the-money option at expiration, unless the holder of the option submits specific instructions to the contrary.
||C & F
||"Cost and Freight" paid to a point of destination and included in the price quoted.
||Cost, insurance and freight paid to a point of destination and included in the price quoted.
||The sale of an option with a nearby expiration against the purchase of an option with the same strike price, but a more distant expiration. The loss is limited to the net premium paid, while the maximum profit possible depends on the time value of the distant option when the nearby expires. The strategy takes advantage of time value differentials during periods of relatively flat prices.
||The period at market opening or closing during which futures contract prices are established by auction.
||Cotton bought or sold on call. See Call.
||A contract giving the buyer the right to purchase something within a certain period of time at a specified price. The seller receives money (the premium) for the sale of this right. The contract also obligates the seller to deliver, if the buyer exercises his right to purchase.
||An order that deletes a customer's previous order.
||For physical commodities such as grains and metals, the cost of storage space, insurance, and finance charges incurred by holding a physical commodity.
||Grain and oilseed commodities not consumed during the marketing year and remaining in storage at year's end.
||An actual physical commodity someone is buying or selling, e.g., soybeans, corn, gold, silver, Treasury bonds, etc. Also referred to as actuals.
||A sales agreement for either immediate or future delivery of the actual product.
||The market for the cash commodity (as contrasted to a futures contract), taking the form of: (1) an organized, self-regulated central market (e.g., a commodity exchange); (2) a decentralized over-the-counter market; or (3) a local organization, such as a grain elevator or meat processor, which provides a market for a small region.
||Cash on Delivery
||Payment for goods is made upon delivery. See Delivery versus Payment.
||The price in the marketplace for actual cash or spot commodities to be delivered via customary market channels.
||A method of settling certain futures or option contracts whereby the seller (or short) pays the buyer (or long) the cash value of the commodity traded according to a procedure specified in the contract.