中英
contango
/ kənˈtæŋɡəʊ /
/ kənˈtæŋgoʊ /
  • 简明
  • 柯林斯
  • n.[经] 交易延期费;期货溢价;延期日息;期货溢价
  • vt.为…付交易延期费
  • vi.[经] 付交易延期费
    • 复数

      contangos或contangoes
    • 第三人称单数

      contangoes
    • 现在分词

      contangoing
    • 过去式

      contangoed
    • 过去分词

      contangoed
  • 网络释义
  • 专业释义
  • 英英释义
  • 1

     期货溢价

    当油市供给过剩、原油库存高企并在增加时,跨期合约差价一般为负,这种情况被称为期货溢价contango),比如,下月交割的石油期货价格低于6个月、或12个月后交割的原油期货价格。

  • 2

    [经] 交易延期费

    ...券,必须在结算日(settlement date/day)照预订价格办理交割(*delivery),否则递延至下一个结算日交割并缴付交易延期费(*contango)。

  • 3

     延期交割费

    ... consumptiontax消费税 contango交易延期费;延期交割费;期货溢价 contingencieswarrant紧急拨款令;应急支款授权书 ...

  • 4

     期货升水

    期货升水(Contango)是指近期价格低于远期价格。

短语
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  • 双语例句
  • 权威例句
  • 1
    With low rates, there isn't sufficient contango to create higher prices in the out years.
    在低利率的情况下,就不会有足够的递延费来创建未来年份的高价格。
  • 2
    Contango is the normal relationship between the spot price and the futures price and is the opposite of backwardation.
    期货升水是现货与期货价格之间的正常关系。
  • 3
    Backwardation is the opposite of contango, representing a situation in which the spot price is higher than the price for future delivery.
    现货溢价正好和期货溢价相反,表示现货价格高于期货价格的一种情况。
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  • 同近义词
  • n.

    [经]交易延期费;[金融]延期日息;期货溢价

    cotangent

  • 百科
  • Contango

    Contango is a situation where the futures price (or forward price) of a commodity is higher than the expected spot price. In a contango situation, hedgers (commodity producers and commodity users) or arbitrageurs/speculators (non-commercial investors), are "willing to pay more [now] for a commodity at some point in the future than the actual expected price of the commodity [at that future point]. This may be due to people's desire to pay a premium to have the commodity in the future rather than paying the costs of storage and carry costs of buying the commodity today."The opposite market condition to contango is known as normal backwardation. "A market is "in backwardation" when the futures price is below the expected future spot price for a particular commodity. This is favorable for investors who have long positions since they want the futures price to rise."The Commission of the European Communities (CEC & 2008 6) described backwardation and contango in relation to futures prices: "The futures price may be either higher or lower than the spot price. When the spot price is higher than the futures price, the market is said to be in backwardation. It is often called "normal backwardation" as the futures buyer is rewarded for risk he takes off the producer. If the spot price is lower than the futures price, the market is in contango."The futures or forward curve would typically be upward sloping (i.e. "normal"), since contracts for further dates would typically trade at even higher prices. (The curves in question plot market prices for various contracts at different maturities—cf. term structure of interest rates) "In broad terms, backwardation reflects the majority market view that spot prices will move down, and contango that they will move up. Both situations allow speculators (non-commercial traders) to earn a profit."A contango is normal for a non-perishable commodity that has a cost of carry. Such costs include warehousing fees and interest forgone on money tied up (or the time-value-of money, etc.), less income from leasing out the commodity if possible (e.g. gold). For perishable commodities, price differences between near and far delivery are not a contango. Different delivery dates are in effect entirely different commodities in this case, since fresh eggs today will not still be fresh in 6 months' time, 90-day treasury bills will have matured, etc.

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