Glossary entry (derived from question below)
English term or phrase:
first nearby month
English answer:
the most recent month for which trading is being transacted, or the spot month.
Added to glossary by
Deborah do Carmo
Mar 8, 2005 07:48
19 yrs ago
1 viewer *
English term
Italy
Qualified and experienced translator
Native in: Italian 
Works in: German to Italian, English to Italian, Spanish to Italian, and 3 more.
nearby (in the context)
English
Bus/Financial
Business/Commerce (general)
Pricing Supplement
The Closing price per metric ton of gas oil on the IPE of the futures contract in respect of the first **nearby** month, stated in U.S. dollars, as made public by the IPE.
I cannot understand the meaning of *nearby*.
I cannot understand the meaning of *nearby*.
Responses
| 5 +1 | specific term used in the futures industry |
Deborah do Carmo
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| 1 +1 | See explanation below... |
Tony M
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Responses
+1
49 mins
Deborah do Carmo
Portugal
Portugal
Native in English
&
English
Specializes in field
Portugal
Lawyer-Linguist
Native in: English (Variant: UK)
Works in: Dutch to English, Flemish to English, English
Related KudoZ points
:
36
Selected
specific term used in the futures industry
First-Nearby Month: the most recent month for which trading is being transacted, or the spot month.
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Note added at 51 mins (2005-03-08 08:40:08 GMT)
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a spot month is defined as the nearest delivery month on a futures contract.
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Note added at 53 mins (2005-03-08 08:42:27 GMT)
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the futures market is a minefield if you don\'t understand the terminology but there are plenty of financial glossaries on the web that will be of assistance.
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Note added at 55 mins (2005-03-08 08:44:32 GMT)
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If you bear in mind that a futures contract is an arrangement through a contract for the delivery of a commodity at a future time and at a price specified at the time of purchase - then it will all start to makes sense.
Good luck!
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Note added at 56 mins (2005-03-08 08:45:51 GMT)
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correction: to make sense
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Note added at 59 mins (2005-03-08 08:48:06 GMT)
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An excellent futures glossary which may be of assistance:
http://www.barchart.com/sample/support/glossary.htm
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Note added at 51 mins (2005-03-08 08:40:08 GMT)
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a spot month is defined as the nearest delivery month on a futures contract.
--------------------------------------------------
Note added at 53 mins (2005-03-08 08:42:27 GMT)
--------------------------------------------------
the futures market is a minefield if you don\'t understand the terminology but there are plenty of financial glossaries on the web that will be of assistance.
--------------------------------------------------
Note added at 55 mins (2005-03-08 08:44:32 GMT)
--------------------------------------------------
If you bear in mind that a futures contract is an arrangement through a contract for the delivery of a commodity at a future time and at a price specified at the time of purchase - then it will all start to makes sense.
Good luck!
--------------------------------------------------
Note added at 56 mins (2005-03-08 08:45:51 GMT)
--------------------------------------------------
correction: to make sense
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Note added at 59 mins (2005-03-08 08:48:06 GMT)
--------------------------------------------------
An excellent futures glossary which may be of assistance:
http://www.barchart.com/sample/support/glossary.htm
Peer comment(s):
| agree |
Philippe C. (X)
35 mins
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merci!
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4 KudoZ points awarded for this answer.
Comment: "Thanks a lot!"
+1
5 mins
See explanation below...
The expression sounds odd, so is this good, native English, or a text of dubious origin? If the text quality is Ok, then I can only assume this is a specialist term of which I was unaware.
As a lay person, the only interpretation I could offer of it as it stands, from the purely lingusitic point of view, would be that it means 'the month nearest to the date in question' --- i.e. if we are the 10th March, it means February, but if we are the 20th of March, it means April. I can only see this as the reason why the would avoid saying 'the next month' or 'the month following'
But I have to emphasize this IS nothing more than supposition on my part!
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Note added at 6 mins (2005-03-08 07:55:42 GMT)
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I think the expression they\'re using is in fact \'first nearby\' instead of saying \'next nearest\' (which would be ambiguous)
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Note added at 1 hr 4 mins (2005-03-08 08:53:04 GMT)
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Asker, I think my simplistic explanation is a bit inadequate, obviously Debbie and Ken have come up with the definitive answers here...
As a lay person, the only interpretation I could offer of it as it stands, from the purely lingusitic point of view, would be that it means 'the month nearest to the date in question' --- i.e. if we are the 10th March, it means February, but if we are the 20th of March, it means April. I can only see this as the reason why the would avoid saying 'the next month' or 'the month following'
But I have to emphasize this IS nothing more than supposition on my part!
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Note added at 6 mins (2005-03-08 07:55:42 GMT)
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I think the expression they\'re using is in fact \'first nearby\' instead of saying \'next nearest\' (which would be ambiguous)
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Note added at 1 hr 4 mins (2005-03-08 08:53:04 GMT)
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Asker, I think my simplistic explanation is a bit inadequate, obviously Debbie and Ken have come up with the definitive answers here...
Peer comment(s):
| agree |
Ken Cox
: Apparently trade jargon; see e.g. 'Exchange Rulebook ... (D) First-Nearby Month: the most recent month for which trading is being transacted, or the spot month. (E) Second-Nearby Month: the ... www.nymex.com/jsp/resources/rule_main.jsp?pg=28
18 mins
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Thanks, Kenneth! Kind of you to do the research...
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