futures contract

Noun
  1. An agreement to buy or sell a specific amount of a commodity or financial instrument at a particular price on a stipulated future date;
    The contract can be sold before the settlement date (synset 106492394)
    is a type of: derivative, derivative instrument - a financial instrument whose value is based on another security
    subtypes: stock-index futures - a futures contract based on a stock index; a bet on the future price of the indexed group of stocks

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