Deferred futures

Deferred futures

The most distant months of a futures contract.

Furthest Month

Among several different futures contracts or options, describing the one with the longest maturity. For example, given three futures contracts, one expiring in March, one in June, and one in September, the furthest month futures contract is the one expiring in September.
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Included in these figures are deferred futures loss amortization of $517,547 for 1992, and $627,446 for 1991, and interest rate swap expenses of $2,808,834 for the second quarter of 1992 versus $2,025,000 for 1991.
The fund pursues positive roll yield by allocating long positions to nearby, first deferred or second deferred futures contracts based on seasonally- and risk-adjusted performance.
A sampling of terms defined includes: active premium, aggregation, angel financing, asset allocation, backwardation, benchmark, bridge loan, capital structure arbitrage, coefficient of determination, commodity option, convertible arbitrage, deferred futures, discretionary trading, distressed debt, enumerated agricultural commodities, extrinsic value, follow-on funding, hedge ratio, interdelivery spread, long short equity, modified value-at-risk, offshore fund, piggyback registration, social entrepreneurship, systematic trading, tracking error, underlying futures contract, venture capital method, and weather premium.