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LSDefine

Simple English definitions for legal terms

ringing up

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A quick definition of ringing up:

Term: Ringing Up

Definition: Ringing up is a way for traders to settle contracts for future delivery without actually exchanging the physical goods. They do this by cancelling or adjusting the prices of the contracts, which saves them the cost of delivering and taking possession of the commodities. It's like saying "never mind" and undoing a deal before it's too late.

A more thorough explanation:

Definition: Ringing up is a method used by commodities dealers to settle contracts for future delivery in advance. This is done by using offsets, cancellations, and price adjustments, which saves the cost of actual delivery and change of possession. It is also known as ringing out.

Example: Let's say a commodities dealer has a contract to deliver 100 barrels of oil in three months. Instead of actually delivering the oil, the dealer can use ringing up to settle the contract. They can offset the contract by buying another contract for the same amount of oil at a lower price, cancel the contract altogether, or adjust the price to reflect the current market value of the oil.

Explanation: The example illustrates how ringing up works by showing how a commodities dealer can settle a contract without actually delivering the goods. By using offsets, cancellations, and price adjustments, the dealer can save the cost of delivery and change of possession, which can be significant in the commodities market. This method is commonly used by commodities dealers to manage their risk and avoid the costs associated with physical delivery.

ringing the changes | Riot Act

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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