basis quote
A quote used for futures contracts which simplifies the quoted price. A basis quote is written as a given dollar amount higher or lower than the price of an existing futures contract. For example, a basis quote could be given as $10 below a oil futures contract which expires in August, and this would simply mean a price $10 less than the value of the August oil futures contract.
- Part of Speech: noun
- Industry/Domain: Banking
- Category: Investment banking
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(Wuhan, China)