Futures

Dr. Richard Sandor

Dr Richard Sandor was chief economist at the Chicago Board of Trade during the 1970′s where he spearheaded the introduction of the futures contracts on Government National Mortgage Association (Ginnie Mae) certificates and 30-year Treasury bonds.

The Intercontinental Exchange

The Intercontinental Exchange (ICE) is a global, electronic marketplace for trading both futures and OTC energy contracts and soft commodities. ICE’s markets offer access to a range of contracts based on crude oil and refined products, natural gas, power and emissions, as well as soft commodities

Back Months

Futures delivery months other than the spot or front month. Also known as deferred months.

Single Stock Future

A futures contract on a single stock. Single stock futures were illegal in the US prior to the passage of the Commodity Futures Modernization Act. See also: Security Future, Security Futures Product

Automated Pit Trading (APT)

APT is a screen based after-hours trading system for major futures contracts on the London International Financial Futures Exchange (LIFFE).

Cotton #2 Futures

Trading Unit: 50,000 pounds Price Quotation: U.S. dollars and cents per pound Minimum Price Fluctuations: one hundredth of a cent ($.0001) per pound. Trading Hours (EST): CME Globex trading platform 6:00 PM Sundays through 5:15 PM Fridays, EST, 45-minute break each day between 5:15 PM and 6:00 PM.

Libid

LIBID stands for London Interbank Bid Rate. This is the interest rate that a Euromarket bank is bidding in order to attract deposits from other banks. See also: LIBOR

Eligible Commercial Entity

Eligible Commercial EntityAn eligible contract participant or other entity approved by the CFTC that has a demonstrable ability to make or take delivery of an underlying commodity of a contract; incurs risks related to the commodity; or is a dealer that regularly provides

Associated Person (AP)

An individual who solicits or accepts (other than in a clerical capacity) orders, discretionary accounts, or participation in a commodity pool, or supervises any individual so engaged, on behalf of a Futures Commission Merchant, an Introducing Broker, a Commodity Trading A

EFP

See Exchange for Physical