Contango /(kŏn*tăṉ"gō̇)/

Con·tan·go

Contango

n.

pl. Contangoes

  1. The premium or interest paid by the buyer to the seller, to be allowed to defer paying for the stock purchased until the next fortnightly settlement day. (Stock Exchange) [Eng.]
  2. The postponement of payment by the buyer of stock on the payment of a premium to the seller. See Backwardation. (Law)