Futures Definitions

Quick Order, Definition

See Fill or Kill Order.

Current Delivery Month

See Spot Month.

Purchase and Sale Statement

See P&S.

CTI (Customer Type Indicator) Codes

These consist of four identifiers that describe transactions by the type of customer for which a trade is effected. The four codes are: (1) trading by a person who holds trading privileges for his or her own account or an account for which the person has discretio

Public Elevators

Grain elevators in which bulk storage of grain is provided to the public for a fee. Grain of the same grade but owned by different persons is usually mixed or commingled as opposed to storing it identity preserved. Some elevators are approved by exchanges as regul

Crush Spread

In the soybean futures market, the simultaneous purchase of soybean futures and the sale of soybean meal and soybean oil futures to establish a processing margin. See also: Gross Processing Margin, Reverse Crush Spread.

Cross Trading

Offsetting or noncompetitive match of the buy order of one customer against the sell order of another, a practice that is permissible only when executed in accordance with the Commodity Exchange Act, CFTC regulations, and rules of the exchange.

Cross-Hedge

Hedging a cash market position in a futures or option contract for a different but price-related commodity.

Crop Year

The time period from one harvest to the next, varying according to the commodity.

Proprietary Account

An account that a Futures Commission Merchant carries for itself or a closely related person, such as a parent, subsidiary or affiliate company, general partner, director, Associated Person, or an owner of ten percent or more of the capital stock. The FCM must seg