Backwardation
(Stockbrokers' term). 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.)
Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894 More on Backwardation from Fact Monster:
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