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Quantitative Finance · Glosarium

Apa itu Warehouse warrant, cancelled warrant, load-out queue?

Dikenal juga sebagai: warehouse warrant · cancelled warrant · load-out queue

Definition 8.4 Markets III: Commodities, Energy and Crypto · Bab 8 — Metals

A warehouse warrant is a document of title to a specific lot of metal of a specified brand and quality in an LME-approved warehouse, and the means of delivery against LME contracts. A cancelled warrant is one whose owner has told the warehouse that it will withdraw the metal: the lot leaves the LME system and waits to be loaded out. The load-out queue is the backlog of cancelled metal waiting to leave a warehouse when cancellations exceed its daily load-out capacity.

The life of a lot of metal in the LME system. Only metal on warrant can be delivered against a contract; cancelled metal waits to leave, and a long queue ties up metal that the market counts as stock. Schematic.
Figure 8.2. The life of a lot of metal in the LME system. Only metal on warrant can be delivered against a contract; cancelled metal waits to leave, and a long queue ties up metal that the market counts as stock. Schematic.
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