以结算价交易TAS和以市价交易TAM
CME Group的合约规格中提到TAS和TAM交易，如：
Gold Futures Contract Specs
Gold 期货 合约规格
Trading at Settlement (TAS) is allowed in the first ,second ,third and fourth nearby active contract months- February, April, June, August and December. TAS transactions may be executed at the current day’s settlement price or at any valid price increment up to 10 ticks higher or lower than the settlement price.
TAS trading terminates 3 business days prior to the contract month.
以结算价交易（TAS）可在有效合约月份进行。有效合约月份为2月、4月、6月、8月和12月。TAS交易可按当日结算价或高于或低于结算价十个最小波动单位的任何有效价格增幅进行。TAS交易在合约月之前3个营业日终止。
Trading at Marker (TAM) is analogous to our existing Trading at Settlement (TAS) wherein parties are permitted to trade at a differential that represents a not-yet-known price. TAM trading will use a marker price, whereas TAS trading uses the Exchange-determined settlement price for the applicable contract month. As with TAS trading,parties enter TAM orders at the TAM price or at a differential between one and ten ticks higher or lower than the TAM price. Trading at Marker is available for the London p.m. Marker on the nearest active month ( February, April, June, August, December).
以市价交易（TAM）易类似于我们现有的 TAS 交易，允许交易各方以未知的价差交易。TAM 交易将使用市场价格，而TAS 交易使用交易所为适用的合约月确定的结算价。如 TAS 交易一样，TAM交易各方将能够以TAM 价格或上下加减1至10个最小波动单位差价输入 TAM 交易单。
市价交易适用于伦敦下午时间最近的活跃月份（2月、4月、6月、8月、12月）。
英文摘自：https://www.cmegroup.com/trading/metals/precious/gold_contractSpecs_futures.html
中文摘自：https://www.cmegroup.com/cn-s/trading/metals/precious/gold_contract_specifications.html
那么什么是TAS呢？
Trading at Settlement (TAS)
TAS is an order type that allows you to execute at a spread to the settlement price at any time during the trading session. You can enter TAS order types up to 8 ticks above or below the settlement price, depending on the contract.
TAS是一种报单类型，允许你在交易阶段的任一时刻采用结算价或包含一定价差的结算价进行报单。
Key Benefits
Reduce uncertainty around the settlement price
Price contracts at or near the settlement value
Execute at any point of the trading day rather than waiting for the market close
Available on CME Globex and eligible for block trades
主要优势
降低围绕结算价的不确定性
合约采用结算价或结算价附近的价格
可以在交易日中的任何时间点执行，而不必等到收盘
CME Globex和大宗交易中可用
英文摘自：https://www.cmegroup.com/trading/trading-at-settlement.html
中文自翻，仅供参考
最新文章
- 【svn】在提交文件是报错：previous operation has not finished;run 'cleanup' if it was interrupted
- CIB Training Scripts For TPC-H Benchmark
- InputStream,String相互转化
- HTML5 webSQL 中查询结果集 result.rows.item 的用法
- 【USACO】pprime
- 会员制实现C2B定制有机农产品，被中粮我买投资的良食网这样卖有机生鲜
- cocos2dx游戏开发——捕鱼达人mini版学习笔记（二）——MainMenu的搭建
- 20150511---Timer计时器（备忘）
- PostgreSQL与MySQL比较（转）
- Spring + qyartz+多任务实现任务调度功能。
- 记一次 net 使用 data.oracleclient 使用错误
- thinkphp 5 前台格式化输出日期
- Optimal Marks SPOJ 839
- Java Native调用C方法
- POJ2455 Secret Milking Machine
- selenium自动化测试多条数据选择第一条
- QT 获取电脑时间
- git学习(七)：git 对象库
- window7下 cocos2dx android交叉编译环境部署小结
- 06: Pymysql