Futures Contract
Definition
A legally binding agreement, made on the trading floor of a futures exchange, to buy or sell a commodity or financial instrument sometime in the future. Futures contracts are standardized according to the quality, quantity, and delivery time and location for each commodity. The only variable is price, which is discovered on an exchange trading floor.
Related Terms Other terms related to 'Futures Contract' starting with the letter 'F' Forex Market, Federal Funds, Floor Trader FT, Feed Ratio, Financial Instrument
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