Non-competitive trading entered into by a trader, usually to assist another with illegal trades, such as a sale at a below market price intended to create a short-term trading loss for tax purposes that is later reversed. A contract in which the seller agrees to deliver a specified quantity of a commodity or other asset to the buyer at a pre-determined price on a series of specified accumulation dates over a specified period of time. Investment Advisers Act of 1940, that is not a third-party subaccount and that executes 200 or more swaps per month. The physical or cash commodity, as distinguished from a futures contract. An agricultural commodity is defined in Commission regulation 1. 1a of the Commodity Exchange Act, including such things as wheat, cotton, corn, the soybean complex, livestock, etc. Off-exchange options on agricultural commodities that are transacted directly between commercial market participants for hedging or risk management purposes.