RE: What is Integral?

Makes sense to me. I did a google on “integral tender” and it doesn’t seem to be a term. Integral has different meetings. It can mean the whole of a work, like, “the integral works of an author”, but it seems more common to say, “an integral
 part” of something, meaning that this is a part of a bigger whole. So, I find “integral tender” to be ambiguous and think All-or-None would be better.

 

David

 

From:  <>
On Behalf Of Considine, Toby

Sent: Tuesday, February 8, 2022 4:53 PM

To: 

Subject: [energyinterop] What is Integral?

 

I know what an Integral Tender is, because I was there during EI.

 

I was talking today to someone who asked "why don't we use the term "Complete?"

 

I scratched my head, and began searching. The closest I could find was in the CME Group, where there is the term "All-or-None"

 

https://www.cmegroup.com/clearing/trading-practices/all-or-none.html 

Trading
 Practices: All-Or-None Orders - CME Group

All-or-None (AON) orders are orders executed in the open outcry venue that must be filled in their entirety at a single price. AON transactions are permitted
 only in certain products and must be for a quantity that meets or exceeds the exchange-specified AON minimum quantity for that product.

www.cmegroup.com

And also this (which has a nice discussion of the effects fo such tenders):

 

https://www.investopedia.com/terms/a/aon.asp

 

SO why don't we use the term All-or-None

All
 Or None (AON) Definition - Investopedia

All or none (AON) is an order type with the instruction to fill the order completely or cancel it; partial fills are not allowed. AON orders usually take longer
 to execute than normal orders ...

www.investopedia.com