1
Law::
contango ( : A double bargain, consistig of a sale for cash of stock previously bought which the broker does not wish to carry, and a purchase for the re-settlement several weeks ahead of the same stock at the same price as at the sale plus interest accrued up to the date of that settlement. The rate of interest is called a “contago” and “contago” days are the days during the settlement when these arrangements are in effect. Charge by broker for carrying customer’s account to the next settlement day. On the London Stock Exchange : a fee paid by a buyer of securities to the seller for the privilege of deferring payment) : continuation (Brit)
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