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any physical commodity such as gold soy beans or pork bellies.  trading in actuals Ultimate result and delivery of the commodity to the buyer when the contract expires.  this contrasts with trading in Commodities of for example index options where the contract is settled in cash and no physical commodity is delivered upon expiration.  however even when trading is an actual most Futures and options contracts are closed out before the contract expires and so these transactions do not end in delivery

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underwriting shorthand for all included referring to an issuer’s interest…

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