| 单词 | Contango |
| 释义 | 順價 1. A condition in which distant delivery prices for futures exceed spot prices. The opposite of backwardation. Contango conditions exist when the forward price of a commodity is significantly higher than the price for prompt delivery. Depending on the difference between the prices it may be possible to buy goods for prompt delivery, store them for a period and sell them at a later date at a profit after allowing for the cost of the original purchase and all the costs associated with keeping them in storage in the interim. By making use of recognised forms of hedging transactions it is possible to insulate the transaction from market movements and establish a fixed profit on the overall transaction, provided the goods are available for prompt delivery on the agreed date. Where the forward price is higher than the cash price, the difference is known as the contango and such a market is described as a contango market. The contango rate broadly reflects the difference in money terms between holding cash and holding the goods for the relevant period. 2. The postponement of payment by the purchaser of stock to the seller on the payment of a charge or premium. 3. The charge made to the purchaser who wishes to delay the delivery of and payment for the stock he purchased until the next settlement day. See also Backwardation. 1. 一項條件，指出期貨的遠期交貨價格超逾現貨價格。與倒價相對。當某商品的期貨價明顯高於即時交割的價，則出現順價條件。視乎價格差異而定，可能因即時交割而買入貨品，將之貯存一段時期，扣減原先買賣的成本及在貯存期間與貨品貯存有關的所有費用，然後以獲利而於較後日期賣出。透過利用認可形式的對沖交易，在該貨物可在已議定的日期即時交割的前提下，可使該宗交易隔絕市場波動，及在整宗交易上確立固定利潤。凡期貨價高於現金價，該價格差異則稱為順價，該等市場則描述為順價市場。順價比率大致上反映於在有關時期內持有現金及持有貨品的金錢上差異。 延期交割費／延期利息 2.股票買方延遲向賣方付款時，支付的費用或溢價。 3. 當買方有意延遲交割及支付所買入的股票，直至下一個結算日時，向該買方支付的費用。另見 Backwardation。 n. |
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