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Par
(1) Refers to the standard delivery point(s) and/or quality of a commodity that is deliverable on a futures contract at contract price. Serves as a benchmark upon which the base discounts or premiums for varying quality and delivery locations. (2) In bond markets, an index (usually 100) representing the face value of a bond.
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- Part of Speech: noun
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- Industry/Domain: Financial services
- Category: Commodity exchange
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