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Finance Glossary

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Basis Quote

Definition:

The basis quote is used with futures contracts (those are contracts that promise to deliver a commodity or bond or currency by a specific date at a specific price). A basis quote makes it easy to read futures quotes by referring to the price of another futures contract.

 Example

The October futures contracts for widgets is quoted at $20, and the November contract is at $30. A basis quote for the November contract would be "October + $10."