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A small charge added to the purchase price and subtracted from the selling price by the dealer for odd-lot quantities.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.


1. The degree of change in quality of the underlying asset on a futures contract that is allowed. Every futures contract specifies the quality of the commodity underlying it that must be delivered in order for the seller to fulfill the contract. The differential allows the seller to deliver a good of a different quality, at least within certain limits. Not all futures contracts allow for differentials.

2. A change in the location of delivery that some futures contracts allow the seller to make at his/her discretion.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


1. In commodities trading, the premium or discount in the futures contract price caused by delivering a commodity that does not exactly meet the standards fixed by the exchange. Allowances for these differentials are included in the contract specifications.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
We use the matrix method to ascertain the upper bound of the longest impossible differentials for several SPN ciphers.
Only considering that there is one active byte in [[alpha].sub.in] and [[alpha].sub.out] presented in Table 2, we will show how to use our formula to determine the data complexity of an impossible differential attack based on these differentials.
Obviously, an N-differential module can be viewed as a generalization of the concept of differential module to any integer N [greater than or equal to] 2.
For a differential count, air-dried cytocentrifuge preparations with Wright's staining are preferred, (1), (2) as the most number of cells can be concentrated from the CSF specimen, and the Wright's stain gives the best morphology.
First, always opt for a vehicle with at least a limited-slip rear differential. If you have an open differential in your rig, purchase an aftermarket limited-slip unit.
"The rear locking differential is a huge feature for this tractor," said Sandy.
While the inflation rates are generally higher for the CPI than for the PCE index, the differentials for both overall and core inflation change over time.
When the back of the car threatens to swap places with the front, engaging the differential on a front-drive vehicle allows the system to "turn up the volume" on the steering through the interaction of the driveline forces and steering geometry.
When mechanical pen and chart recorders were first used to record differential pressures at orifice meters, the customary limits on [DELTA]P were 20-inch [H.sub.2]O to 100-inch [H.sub.2]O (Ref.
All production cars have a differential to compensate for the different distances covered by the inside and outside wheel when cornering.
The main contribution of this paper lies in its focus on the short-run investigation of the relationship between net exports and wage differentials. This investigation is conducted within the vector error correction testing framework.

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