back·ward·a·tion | \ ˌbakwə(r)ˈdāshən \
plural -s
Definition of backwardation
1 : the seller's postponement of delivery of stock or shares on the London Stock Exchange with the consent of the buyer upon payment of a premium to the latter
2 : the premium paid in backwardation — compare contango
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Time Traveler for backwardation
The first known use of backwardation was in 1850
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