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futures contract (plural futures contracts)

  1. (finance) A standardized contract, traded on a futures exchange, to buy or sell a standardized quantity of a specified commodity (or financial instrument) of standardized quality at a certain date in the future, at a stated price (the futures price).

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Further reading edit

  • John Smullen; Nicholas Hand, editors (2005), “futures contract”, in A Dictionary of Finance and Banking, 3rd edition, Oxford University Press, →ISBN, page 174