Interest Rate futures - Futures contracts traded on fixed income securities such as GNMA's, U.S. Treasury issues, or CDs. Currency is excluded from this category, even though interest rates are a factor in currency values.
Intermarket Spread - See Spread and Intercommodity Spread.
International Commodities Clearinghouse (ICCH) - An independent organization that serves as a clearinghouse for most futures markets in London, Bermuda, Singapore, Australia, and New Zealand.
In-The-Money - A term used to describe an option contract that has a positive value if exercised. A call at $400 on gold trading at $410 is in-the-money 10 dollars.
Intracommodity Spread - See Spread and Interdelivery Spread.
Intrinsic Value - A measure of the value of an option or a warrant if immediately exercised. The amount by which the current price for the underlying commodity or futures contract is above the strike price of a call option or below the strike price of a put option for the commodity or futures contract.
Introducing Broker (or lB) - Any person (other than a person registered as an "associated person" of a futures commission merchant) who is engaged in soliciting or in accepting orders for the purchase or sale of any commodity for future delivery on an exchange who does not accept any money, securities, or property to margin, guarantee, or secure any trades or contracts that result therefrom.
|