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Friday's Term
Basis Swap
Definition:
A swap whose cash settlement price is calculated based on the basis between a futures contract and the spot price of the underlying commodity or a closely related commodity on a specified date.
Par
Definition:
Refers to the standard delivery point(s) and/or quality of a commodity that is deliverable on a futures contract at contract price.
Buy (or Sell) On Close
Definition:
To buy (or sell) at the end of the trading session within the closing price range.
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Securities Terms >
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