Spot Month Law and Legal Definition

According to 17 CFR 150.1 [Title 17 -- Commodity And Securities Exchanges; Chapter I -- Commodity Futures Trading Commission; Part 150 -- Limits On Positions], spot month means “the futures contract next to expire during that period of time beginning at the close of trading on the trading day preceding the first day on which delivery notices can be issued to the clearing organization of a contract market.”