/ · 1894 Brewer’s · B · Backwardation (Stockbrokers term)
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The sum paid by a speculator on a “bear account” (i.e. a speculation on a fall in the price of certain stock), in order to postpone the completion of the transaction till the next settling day. (See Contango.)
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Entry taken from Dictionary of Phrase and Fable, edited by the Rev. E. Cobham Brewer, LL.D. and revised in 1895.
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