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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 ?
Graphic dependences of the efficiency of the differential gear transmission [[eta].sub.43] = f([[omega].sub.1], [[omega].sub.4], [u.sup.(4).sub.13]) for gear ratios [u.sup.(4).sub.13] = {1 ...
The above torque conversion principle enables this invention to be used in place of differential gears in automobiles or other vehicles.
Prof Edmunds said, 'It does raise the question, 'what else were they making at the time?' In terms of historic and scarcity value, I have to regard this mechanism as being more valuable than the Mona Lisa.': How it works:The Greek device used 30 hand-cut differential gears fashioned from bronze.
-Optimal component placement-moving the differential gear forward (see above) and positioning the steering gearbox higher-allowed for a compact engine compartment.
Like the impossibly high penny-farthings inspired by Starley's progressive ariel design and` the first differential gear he fitted to a tricycle.
It consists of large and strong Driving Wheels, Open Cog Main Gear Wheels, a Three Pinion Compensating or Differential Gear, and our improved Friction Belt Attachment.
In 1876 the successful Coventry tricycle was introduced and the following year saw James Starley's greatest contribution to engineering design - the differential gear, the principle of which is now legend and incorporated into millions of motor cars.
James Starley invented the differential gear which is still a design feature of motor vehicles today.

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