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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 ?
The obtained analytical and graphical dependences of the efficiency between the driving and driven links (carrier and epicycles, and vice versa) in single-stage single-row and two-row differential gears with closed hydro systems (fig.
The metallic plates rubbing against each other cause wear and a metallic paste to form in the differential gear oil.
The above torque conversion principle enables this invention to be used in place of differential gears in automobiles or other vehicles.
The device uses a differential gear previously believed to have been invented in the 16th century, and is remarkable for the level of miniaturisation and complexity of its parts, which is comparable to that of 18th century clocks.
The users watch an introductory video or animation about the operation of the differential gear and understand its operation in two cases: (1) the car moves straight and (2) the car turns.
The products, which will be manufactured at seven different Metaldyne facilities, include cold-and warm-forged net-shape differential gears, ring gears and stem pinions.

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