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.



An agency or separate corporation of a futures exchange that settles trading accounts, collects and maintains margin monies, regulates delivery and reports trade data. Clearinghouses act as third parties to all futures and options contracts—acting as a buyer to every clearing member seller and a seller to every clearing member buyer.