contango

• POS: Noun, Verb (usu participle)
• HYPHEN: con=tang=o

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.

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.