词汇 (只提供英文译本)

A provision of a FUTURES contract that allows buyers and sellers to make and take delivery under terms or conditions that differ from those prescribed in the contract. An ADP may occur at any time during the delivery period, after LONG and SHORT futures positions have been matched by the Exchange for the purpose of delivery.

Allowing an option to expire without exercising it, done generally when an option is OUT-OF-THE-MONEY.

1. Formal indication by a debtor of his willingness to pay a time draft or bill of exchange.
2. A written instrument so accepted; compliance by one party with the terms and conditions of another

Non-competitive trading conducted usually to assist another trader in illegal trading.

In FUTURES trading, the active month is the nearest contract month that isn

1. The physical commodities underlying a FUTURES contract.
2. A cash COMMODITY or physical asset, e.g. GOLD, wheat.
Also known as CASH COMMODITY or SPOT COMMODITY.

An ORDER which must be filled in its entirety or not at all.

A RISK-adjusted measure of expected return on an investment and a useful tool to measure the performance of a given money manager compared with his peers. For example: a hedge fund focusing on H shares delivers a return of 25 per cent while short-term interest rates are 5 per cent (resulting in an excess return of 20 per cent) and an H-share index fund rises 14 per cent (for an excess return of 9 per cent); if the hedge fund has a BETA of 2.0, its expected excess return would amount to 2 x 9% = 18%.

A chemical element with symbol Al and atomic number 13. It is silvery white, malleable and ductile and is the most abundant metal in the earth

The primary U.S. oil industry trade association, based in Washington, D.C. API conducts research and sets technical standards for industry equipment and products from wellhead to retail outlet. It also compiles statistics which are regarded as industry benchmarks. Members include producers, refiners, suppliers, pipeline operators and marine transporters as well as service and supply companies that support all segments of the industry.