Non-competitive trading entered into by a trader, usually to assist another with illegal trades.

The Physical or cash commodity, as distinguished from a commodity Futures Contract.

The discounts (premiums) allowed for grades or locations of a commodity lower (higher) than the par (or basis) grade or location specified in the Futures Contract.

Any bank, stockyard, mill, storehouse, plant, elevator or other depository that is authorized by an exchange for the delivery of commodities tendered on futures contracts.

The simultaneous purchase and sale of similar commodities in different markets to take advantage of a price discrepancy.

The process of setting disputes between parties.

A person chosen to decide disputes between parties in an arbitration proceeding.

An order to buy or sell a futures contract at whatever price is obtainable when the order reaches the trading floor.