BACKWARDATION Definition

BACKWARDATION is the commission paid by a seller for the postponement of a transaction on a stock exchange when prices for cash delivery are higher than for forward delivery.

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CONFIRMATION is a form detailing a particular securities transaction. It is also referred to as a ticket, a trade memo, a trade memorandum or an advice.

EFFORT-EXPENDED METHOD measures the percentage of labor hours incurred to date as compared to estimated total labor hours for each contract.

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