Lat. In Roman law. A largess, dole, or present; a pecuniary donation; an official perquisite; something over and above the ordinary fee allowed by law. Inst. 4, 6, 24.

A market exchange currently taking place. Refer to market, price, and rate.

A bid at auction where written bids are placed in the box that is then opened prior to the next item is up for auction.

The color reproduced using a pre-mixed ink like that found in the Pantone Matching System.

A commodity that is sold or bought on the spot market .

The contract for spot market and the immediate sale of a spot commodity .

A term in foreign exchange markets where the date is 2 business days away from today where currency needs to be sold and must be delivered.

The value of an asset at the present time in the market. AKA cash market. Refer to forward market .

The month of delivery of futures that is the closest to the expiry date.

In foreign currency trading, spot next refers to the price adjustment for a future delivery date . Refer to tom next.

The current market cost or cash price of an asset. Refer to forward price .

A price that is settled upon considering future price movements in the current market. AKA cash rate. Refer to forward rate .

Process joining sheet metal where the parts are welded together by electrodes.

Variation in zoning where a piece of land is zoned differently than that surrounding it.

Decedents spouse entitled to receive benefits from a will and proceeds from life insurance policy and other assets .

In old English law . Mutual promises to marry.

a term that is used to describe a person’s husband or wife.

In old English law . Adultery. Cowell.

A strategy whereby several financial factors combine to expose or protect the price of a commodity. Refer to bull spread , bear spread , effective spread , quoted spread , […]

Measuring the sensitivity of a bond price based on basis point changes of more than 100.

Difference between cost and income. Also known as margin income.

Finite reinsurance where premium is paid to an experience account every year for the contracts duration. The account generates a rate that covers loss. If anything is left at maturation […]

Excess loss insurance where premium rates are based on losses over previous years.

When the difference between two assets and a strike price are used to pay off debt or loss. AKA difference, outperformance, and underperformance options. Refer to multi index option and […]

Risk due to changes between two assets with a common link. This is a category of market risk .