- TAPO (Traded Average Price Option)
- Also known as an Asian Option.
In this section
In this section
- Tender
- Either the delivery of the physical commodity against a futures contract or the competitive process whereby physical traders are invited to bid or offer for a defined supply contract.
- Tick
- The minimum permitted price fluctuation between one trade and the next on a futures market.
- Tom-Next
- Within the LME normal two day settlement, a position may nevertheless have a prompt date one day forward.
- Traded Option
- An option contract based on standardised terms which can be traded to third parties or on an Exchange.
- Troy Ounce
- Equal to 31.1035 g.
- Unallocated
- Precious metal held on account which represents a claim on a notional amount of metal.
- Value
- An LME term referring to a price which is traded in a volume sufficient to satisfy all the current buyers and sellers at that price.
- Variation Margin
- A request for additional funds (a margin call) to cover any losses on an open position, based on current market values.
- Volume
- The total weight of a commodity traded in one day, expressed either in tonnes or lots. Also referred to as turnover.
- Warrant
- The document of title to metal stored in an LME registered warehouse.
- Zero Cost
- Where the purchase of one option premium strike cancels out the income of a different premium strike so that no premium changes hands.