Welcome to the RJO Futures trading terms glossary. Within this glossary, you will find an expansive list of trading terms covering commodity, option, and futures trading terminology. Bookmark this section as a quick reference for definitions of trading terms as you browse the Internet and our site for more information on futures and options trading within the financial and commodities markets.
A member of an exchange clearinghouse, responsible for the financial commitments of its customers. All trades of a non-clearing member must be registered and eventually settled through a clearing member.