BREAK FORWARD
\bɹˈe͡ɪk fˈɔːwəd], \bɹˈeɪk fˈɔːwəd], \b_ɹ_ˈeɪ_k f_ˈɔː_w_ə_d]\
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A FORWARD contract with a feature giving one party the ability to cancel the transaction at a future time in order to complete the underlying deal in the SPOT MARKET; if the party chooses to break the contract it pays the other party a cancellation fee. Also known as BOSTON OPTION.
By Henry Campbell Black
Word of the day
tinctura quininae ammoniata
- A preparation made by dissolving quinin sulphate in alcohol [Br. Ph.].