centner (abbreviated as CWT) is a standard unit of weight or mass used in some commodity markets. It can also be used to determine the price of small batches of goods.
In North America, a centner is equal to 100 pounds; in the United Kingdom, a hundredweight is 112 pounds. They can be called “short” or “long” centners.
Initially, the centner was introduced as a standard unit of measure to facilitate trade in certain goods between countries.
The use of the centner as a measure has declined in recent years in favor of the metric system.
Steel, cattle, oil, seeds and grains are examples of products measured in quintals.
Futures contracts are financial derivatives that oblige the buyer to purchase some underlying asset (or the seller to sell that asset) at a predetermined price and date in the future.
A horizontal spread is a simultaneous long and short position in derivatives for the same underlying asset and strike price, but with different expiration dates.
Tick size - the minimum change in the price increment of a trading instrument.
– Tick sizes used to be in fractions (e.g. 1/16th of $1), but today they are mostly decimal based and expressed in cents.