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Crack Spread Swap

A commodity swap which allows a refiner to hedge against a narrowing spread between crude oil prices and the prices...

Crack Swap

A commodity swap that calls for the payment of the spread between crude oil and a specific basket of "cracked"...

Carrying Charges

The sum of all expenses incurred on holding an asset, literally: storage, insurance and financing costs, subtracted from the income...

Cost of Carry

The sum of all expenses incurred on holding an asset, literally: storage, insurance and financing costs, subtracted from the income...

Fixed Price Swap

A swap that is used to fix the price of a given commodity such as jet fuel or gas. It...

Commodity Token

A tokenized form of traditional commodities with established markets such as oil, gold, silver, natural gas, etc. The value proposition...

Cash-Settled Swap

A swap (usually a commodity swap) in which two counterparties agree a price and a quantity of an underlying asset...

Forward Rate

The rate at which a seller is willing to exchange an asset (a commodity, a currency, etc.) at a specified...

Backwardation

A pricing structure in securities, foreign currencies and commodities trading wherein the prices of near future deliveries exceed those of...

Backwardation Swap

A commodity swap in which two counterparties exchange cash flows based on two prices: the sport price and the future...