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Actuals
See Cash Commodity
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Aggregation
The policy under which all futures positions owned or controlled by one trader or a group of traders are combined to determine Reportable Positions and speculative limits.
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Arbitrage
The simultaneous purchase and sale of similar commodities in different markets to take advantage of price discrepancy.
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Arbitration
The process of settling disputes between parties by a person or persons chosen or agreed to by them. NFA's arbitration program provides a forum for resolving futures-related disputes between NFA Members or between Members and customers.
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Associated Person (AP)
An individual who solicits orders, customers or customer funds on behalf of a Futures Commission Merchant, an Introducing Broker, a Commodity Trading Advisor or a Commodity Pool Operator and who is registered with the Commodity Futures Trading Commission.
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At-the-Money-Option
An Option whose Strike Price is equal - or approximately equal - to the current market price of the Underlying Futures Contract.
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