Lead Future definition

Lead Future means for each Individual Commodity Index and each Trading Day,
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Lead Future means (a) for an Individual Commodity Index and a Trading Day with respect thereto, the particular futures contract which is the “Lead Future” (as defined in the Handbook) for the Corresponding Unhedged Commodity Index on that Trading Day and (b) for a commodity comprised in an Unhedged Commodity Index corresponding to a Composite Commodity Index but which is not the subject of an Unhedged Commodity Index corresponding to an Individual Commodity Index and a Trading Day with respect thereto, the particular futures contract which is the “Lead Future” (as defined in the Handbook) for that commodity in relation to that Unhedged Commodity Index on that Trading Day
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Lead Future means (a) for an Individual Commodity Index and a Trading Day with
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Examples of Lead Future in a sentence

  • For the Bloomberg Commodity Index 3 Month ForwardSM the designated month contracts are exactly the same as for the Bloomberg Commodity IndexSM save that for the Bloomberg Commodity Index 3 Month ForwardSM, the contracts that would be the Lead Future and Next Future for the Bloomberg Commodity IndexSM in three calendar months are instead the Lead Future and Next Future in the current calendar month for the Bloomberg Commodity Index 3 Month ForwardSM.

  • The Lead Future is the contract month set forth under the corresponding WAV month in Table 9.

  • The current Lead Future contracts for the Bloomberg Commodity IndexSM are shown in Table 2(b).

  • Table 9 below lists the Designated Contract months that are to be used to determine the Lead Future and Next Future for each Index Commodity for this calculation.

  • To illustrate, the Lead Future for natural gas in January is March, as is the Next Future, and in February the Lead Future is March and the Next Future is May.

  • Note that as a new month begins, the Next Future (as indicated in Table 9 below) becomes the Lead Future.

  • Pricing is rolled from the Lead Future to the Next Future in the month prior to its named month (so that pricing for Natural Gas rolls in early December from the January contract to the March contract).As can be seen in Table 2, not all commodities have the same named months or number of Designated Month Contracts.

  • WAV1 and WAV2 are calculated on the basis of prices for the Lead Future and the Next Future, respectively.

  • The Longer Dated Securities are priced by reference to relevant 3-month forward Individual Commodity Indices which are based on the same methodology as the DJ-UBS CI-F3SM (which tracks the same commodities as the DJ-UBS CISM but for the DJ-UBS CI-F3SM, the contracts that would be the Lead Future and Next Future for the DJ-UBS CISM in three calendar months are instead the Lead Future and Next Future in the current calendar month for the DJ-UBS CI-F3SM).

  • For each such year, using the calendar months of August to July; ie August 2020 to July 2021, calculate the average of the Settlement Prices for the Lead Future on the first Business Day of each month.


More Definitions of Lead Future

Lead Future means, for each Index Commodity, the futures contract month designated in Table 9 of the Methodology under the current month for each Designated Contract.
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Lead Future means (a) for an Individual Commodity Index and a Trading Day with respect thereto, the particular futures contract which is the “Lead Future” or “Lead Contract” (as defined in the Handbook) for that Individual Commodity Index on that Trading Day and (b) for a commodity comprised in a Composite Commodity Index but which is not the subject of an Individual Commodity Index and a Trading Day with respect thereto, the particular futures contract which is the “Lead Future” (as defined in the Handbook) for that commodity in relation to that Composite Commodity Index on that Trading Day
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Lead Future means, for each Index Commodity, the futures contract month designated in Table 9a and 9b of the
Sample 1Sample 2
Lead Future means for each Individual Commodity Index and each Trading Day, the particular futures contract which is the “Lead Future” (as defined in the Handbook) for that Individual Commodity Index
Sample 1

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