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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.


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.


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.
References in periodicals archive ?
FIGURE 4 shows the same differential pair as Figure 3 with 40ps of skew.
Each differential serial-channel standard and speed has its own tolerance for skew.
Additionally, we omit the last round linear permutation layer P since it does not influence the length of an impossible differential, i.e., an r-round SPN structure can be signified by [(S * P).sup.(r-1)] * S.
If p([delta] [right arrow] [DELTA]) = 0, then [delta] [right arrow] [DELTA] is called an impossible differential of G.
Suppose that [PHI](k, h) and W(k, h) are the fractional differential transforms of the functions [phi](x, t) and w(x, t), respectively, such that
Let [E.sub.K](x) be a block cipher and [alpha], [beta] [member of] [F.sup.n.sub.2]; if [for all]Th [E.sub.K](v [direct sum] a) [direct sum] [E.sub.K](x) = [not equal to] [beta] for all v [member of] [F.sup.n.sub.2]; we call ([alpha], [beta]) an impossible differential of E, which is denoted by [alpha] [??] [beta] More generally, let A, B [subset not equal to] [F.sup.n.sub.2]; we call (A, B) an impossible differential, denoted by A [??] B, if for any [alpha] [member of] A, [there exist][beta] [member of] B, such that [alpha] [??] [beta], and for any [beta] [member of] B, [there exist][alpha] [member of] A, such that [alpha] [??] [beta].
However, as described in [31], in case of pseudo-differential filters only the non-differential input and output are to be transformed into differential one.
Burton, Volterra Integral and Differential Equations, vol.
An approximate approach, namely, the reduced differential transform method was applied to obtain numerical solution.
We consider the general form of in-homogenous nonlinear partial differential equations with initial conditions as given below
Also, take advantage of the fact that the differential pairs are unidirectional, and interleave transmit and receive pairs so that forward crosstalk becomes inconsequential.

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