(obsolete) In the London Stock Exchange: a fee paid by a seller on settlement day either to the buyer or to a third party who lends stock, when the seller wishes to defer settlement until the next settlement day.
In full normal backwardation: the situation in a futures market where the price for future delivery of a commodity (the forward price) is lower than the price for immediate delivery (the spot price) or nearer delivery, generally arising from a near-term shortage of the commodity.
The situation in a stock market where the offer price for stock is lower than the bid price.
switchboard
switchboard
noun
(electrical engineering) A large piece of power-distribution equipment that directs electricity to multiple loads.
(telecommunications) The electronic panel that is used to direct telephone calls to the desired recipient.
