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.
The value of each unit of participation in a commodity pool. Basically, it is a calculation of assets minus liabilities plus or minus the value of open positions when marked to the market, divided by the total number of outstanding units.