Procedure by which the long or short position of an individual is offset by an opposite transaction or by accepting or making delivery of the actual financial instrument or physical commodity. Bloomberg Financial Dictionary
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A completed transaction involving both a purchase and a liquidating sale, or a sale followed by a covering purchase.A round turn counts both the buy and the sell as one event. In a typical exchange volume measurement, a one-contract trade would be counted as one round turn ( i.e., single event, same trade, different customers). From the customer's perspective, a round turn represents two filled orders from his or her brokerage firm - one to take a position and one to offset that position ( i.e., same customer, different trades). Chicago Mercantile Exchange Glossary
Financial and business terms. 2012.