• The physical commodity underlying a futures contract. Cash commodity, physical.
• Is the real or underlying asset for a derivative product or commodity market.
• The cash commodity as opposed to the futures contract. Also known as cash or the spot.
| ||Embedded terms in definition|
| ||Referenced Terms|
| ||Aa: See Against Actuals.|
| ||Against cash: See Against Actuals.|
| ||Commodity or commodities: Are often viewed as the futures markets on both physical and financial items. Sometimes, commodities is used more narrowly to refer to physical goods such as, gold, silver, wheat, and pork bellies. Then financial futures would refer to stock indices, eurodollars, treasuries, currencies, and other security-type instruments. In a more restrictive sense, commodity or commodities refer to the Actuals in the spot market.|
| ||Related Terms|
| ||Against actuals|
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