Word Study
contango
CIDE DICTIONARY
contango, n. [Prob. a corruption of contingent.].
- The premium or interest paid by the buyer to the seller, to be allowed to defer paying for the stock purchased until the next fortnightly settlement day. [1913 Webster]
- The postponement of payment by the buyer of stock on the payment of a premium to the seller. See Backwardation. N. Biddle. [1913 Webster]
OXFORD DICTIONARY
contango, n. (pl. -os) Brit. Stock Exch.
1 the postponement of the transfer of stock from one account day to the next.
2 a percentage paid by the buyer for such a postponement.
1 the postponement of the transfer of stock from one account day to the next.
2 a percentage paid by the buyer for such a postponement.
Idiom
contango day the eighth day before settling day.
Etymology
19th c.: prob. an arbitrary formation
ROGET THESAURUS
contango
Discount
N discount, abatement, concession, reduction, depreciation, allowance, qualification, set-off, drawback, poundage, agio, percentage, rebate, rebatement, backwardation, contango, salvage, tare and tret, sale, bargain, half price, price war, wholesale, wholesale price, dealer's price, trade price, coupon, discount coupon, cents-off coupon, store coupon, manufacturer's coupon, double coupon discount, triple coupon discount, discounting, at a discount, below par, at wholesale, have a friend in the business.For further exploring for "contango" in Webster Dictionary Online
