Commodity exchange glossaries and terms

Nearby delivery month

Financial services; Commodity exchange

The month of the futures contract closest to maturity.

The maximum number of speculative futures contracts one can hold as determined by the Commodity Futures Trading Commission and/or the exchange upon which the contract is traded. Also referred to as ...

Price limit

Financial services; Commodity exchange

The maximum advance or decline–from the previous day's settlement–permitted for a contract in one trading session by the rules of the exchange. According to the Chicago Board of Trade rules, an ...

Trading limit

Financial services; Commodity exchange

The maximum number of speculative futures contracts one can hold as determined by the Commodity Futures Trading Commission and/or the exchange upon which the contract is traded. Also referred to as ...

Position limit

Financial services; Commodity exchange

The maximum number of speculative futures contracts one can hold as determined by the Commodity Futures Trading Commission and/or the exchange upon which the contract is traded. Also referred to as ...

Limit

Financial services; Commodity exchange

The maximum price advance or decline from the previous day's settlement price permitted during one trading session, as fixed by the rules of an exchange.

Basis point

Financial services; Commodity exchange

The measurement of a change in the yield of a debt security. One basis point equals 1/100 of one percent.

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