First notice day(redirected from First Position Days)
First notice day
The first day, varying by contracts and exchanges, on which notices of intent to deliver actual financial instruments or physical commodities against futures are authorized.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
First Notice Day
The first day on which a clearing house may inform an investor that it intends to make delivery of a commodity that the investor previously bought in a futures contract. The date is governed by the rules of different exchanges and clearing houses, but may also be stated in the futures contract itself. It also occurs in the delivery month in which the contract expires.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved