BANK BASE RATE is the annual interest rate on which British banks calculate lending charges (minimum lending rate).
CHURNING, in securities, is the frequent trading of an account in order to generate commissions.
SPOT COMMODITY is a commodity traded with the expectation that it will actually be delivered to the buyer, as contrasted with to a FUTURES CONTRACT that will usually expire without any physical delivery actually taking place. Spot commodities are traded in the SPOT MARKET.
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