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Word: backwardation
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Meaning:
Noun:
- finance The situation in a futures market where prices for future delivery are lower than prices for immediate (or nearer) delivery. Generally arising from a near-term shortage of a commodity.
- London Stock Exchange fee paid by a seller on settlement day either to the buyer or to a third party who lends stock, when the seller wishes to defer settlement until the next settlement day.
Source: Wiktionary
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