subs. (stock exchange).—A fine paid by the buyer to the seller of stock for carrying over the engagement to another settling day, and representing a kind of interest for a fourteen days’ extension. [Thought to be a corruption of ‘continuation.’]
1853. Notes and Queries, 17 Dec., p. 586, col. 2. CONTANGO: a technical term in use among the sharebrokers of Liverpool, and I presume elsewhere, signifying a sum of money paid for accommodating either a buyer or seller by carrying the engagement to pay money or deliver shares over to the next account day.
1871. Daily News, 27 Feb. A large amount of money was offered in the Stock Exchange, in connection with the fortnightly settlement, which began this morning, and the CONTANGOES on British railway securities were light, while the supply of stock was small.
1872. Evening Standard, 11 Dec. ‘City Intelligence.’ Erie Shares are steady; the CONTANGO is 3d. to 9d.
1884. Daily News, Nov. 13, p. 5, col. 1. City shop is not less baffling, and it is perhaps impossible for laymen to understand what CONTANGO means. CONTANGO, by the way, would be a proud motto for an ennobled stockbroker, and would look well under a crest.
1887. G. D. ATKIN, House Scraps.
| B stands for Broker, for Bull and for Bear. | |
| C ’s the CONTANGO that’s paid by the Bull. |
