actual


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Related to actual: Actual Cost, actual time

Actual

A physical, homogenous commodity underlying a contract. Actuals can be traded on the physical market and delivered immediately, or traded on the futures market and delivered at the completion of the contract. As such, actuals have an intrinsic value. Examples include oil, beef, and diamonds.

actual

In commodities, the physical asset (that is, the commodity) as opposed to a futures contract on that asset.
References in classic literature ?
It was a folly, with the materiality of this daily life pressing so intrusively upon me, to attempt to fling myself back into another age, or to insist on creating the semblance of a world out of airy matter, when, at every moment, the impalpable beauty of my soap-bubble was broken by the rude contact of some actual circumstance.
If the mighty merchant whose benefactions are reckoned by thousands of dollars deem himself worthy, let him join the procession with her whose love has proved itself by watchings at the sick-bed, and all those lowly offices which bring her into actual contact with disease and wretchedness.
As for the people at Mercy Farm, it was like a taste of actual death.
This problem arises from the imperfection of human nature, apparent in rulers as well as in ruled, and if the principle which attempts to solve it be admitted as a principle of importance in the formation of the best constitution, then the starting-point of politics will be man's actual imperfection, not his ideal nature.
It was therefore a disagreeable reminder of the actual situation when Joe said aloud:
While they could locate the Desert of Sahara or the capital of China on an artificial globe, I found out that the girls could not locate the proper places for the knives and forks on an actual dinner-table, or the places on which the bread and meat should be set.
The marshals and generals, who were nearer to the field of battle but, like Napoleon, did not take part in the actual fighting and only occasionally went within musket range, made their own arrangements without asking Napoleon and issued orders where and in what direction to fire and where cavalry should gallop and infantry should run.
This distinguished scientist has expounded his views in a book entitled "Verschwinden und Seine Theorie," which has attracted some attention, "particularly," says one writer, "among the followers of Hegel, and mathematicians who hold to the actual existence of a so- called non-Euclidean space--that is to say, of space which has more dimensions than length, breadth, and thickness--space in which it would be possible to tie a knot in an endless cord and to turn a rubber ball inside out without 'a solution of its continuity,' or in other words, without breaking or cracking it.
Everyone who has had experience in the matter must have observed that one confronts the actual and imaginary perils of the night with far less apprehension in the open air than in a house with an open doorway.
The chief greatness of the "Iliad" is in the character of the heroes Achilles and Hector rather than in the actual events which take place: in the Cyclic writers facts rather than character are the objects of interest, and events are so packed together as to leave no space for any exhibition of the play of moral forces.
It is potential, not actual, and can only be appropriated by strenuous exertion.
In her actual state, with her surrounding atmosphere certainly very much reduced, her seas for the most part dried up, her insufficient supply of water restricted, vegetation, sudden alternations of cold and heat, her days and nights of 354 hours-- the moon does not seem habitable to me, nor does she seem propitious to animal development, nor sufficient for the wants of existence as we understand it.