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Top Step and Front Contract all refer to the month that is the dominant
contract in volume. It is traded on the top step of the pit. It is normally
the closest, or front month. Different terms, same thing.
Regards,
John J. Lothian
Disclosure: Futures trading involves financial risk, lots of it!
In a message dated 5/16/2002 3:27:17 PM Central Daylight Time,
kentr@xxxxxxxxxxxxxx writes:
<< I thought top step referred to traders' positions in the pits, ie. large
brokers tend to stand around the outside, "top steps" of the pits because
they trade larger size.
Isn't the correct term here "front month" or "front contract"?
Kent >>
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