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futures contract

definition

A written contract to buy or sell a physical commodity or financial instrument at a future date and at an agreed upon price. With the exception of price, all other terms of a futures contract are standardized for each product by the exchange on which they are traded. See Delivery; Derivative; Futures; Futures Exchange.

Related Terms

 • Delivery Point  • price limit  • customer margin  • delivery  • Buying Basis  • Futures pack  • back months  • Roll yield
 more related terms