Cylinder

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Cylinder

A series of two transactions involving derivatives in which there is no initial cost to the investor. A common example of a cylinder is the sale of one derivative and the use of the proceeds to buy another. It is similar to a positive carry, but does not necessarily involve offsetting positions.
References in periodicals archive ?
It is well worth lagging your hot-water cylinder by fitting it with a jacket made from mineral- fibre insulation.
Start with a few relatively inexpensive measures, such as insulating your hot-water cylinder and draught-proofing windows and doors, then do the more expensive things bit by bit - for example insulating the floor, roof and walls.
You could go for a wood-burning stove that has a traditional kitchen range look with a back boiler providing hot water for radiators and the main hot-water cylinder.
Ideas include an under-stairs cupboard (if there''s just an under-stairs space, a carpenter can create a cupboard), freeing up the airing cupboard by having a combi boiler fitted and so getting rid of the hot-water cylinder, window seats that double as storage, stairs that contain drawers, vanity and wall units in bathrooms, and bookshelves and cupboards in alcoves, even a desk - with a bespoke home office, the space can be tailor-made for your computer, books, files and more.
The initial cost can be fairly high so the best way is to set your priorities - start with a few relatively inexpensive measures, such as insulating your hot-water cylinder and draught-proofing windows and doors, then do the more expensive things bit by bit - for example, insulating the floor, roof and walls or installing double glazing.
The gallery-style landing has a walk-in airing cupboard housing a hot-water cylinder and slatted shelves.