In futures markets, a standardized traded instrument that specifies the quantity and quality of a commodity (or financial asset) for delivery (or cash settlement) at a specified future date.
At XPRESSTRADE, a commodity with a delivery month specified. For example, December S&P 500 or May Wheat.
Refers to a unit of trading for a commodity future or option.
One unit of trading within the commodities markets; it caries in size from market to market.
A standard unit of trading in options and futures.
The unit of trading in commodity futures. A futures contract specifies the exact grade, amount, and month of delivery of the commodity.
A single unit of a commodity or future. For example, a single unit or contract of corn is 5,000 bushels.
A standard trading lot, typically 100,000 units of the base currency.
The financial instrument being traded in these markets. "Contracts" may also refer to the number of units in the financial instrument as should be clear from the context.
A unit of trading for a financial or commodity future, or option.
Futures or Options listed and traded on an Exchange. The opposite to Over-the-Counter.
The standard unit of trading
Unit of trade on a futures exchange. For the NY Mercantile Exchange, this is 42,000 gal (1000 bbl) for gasoline, heating oil and crude oil.
A commitment to make or take delivery of a specified quantity of a good at a specified date in a specified location. For the FTG, we will trade only 6 contracts specifying Chicago as the place of delivery. The contracts are May 1999 Corn (5000 bu, delivery in May, 1999), December 1999 Corn (5000 bu, delivery in Dec., 1999), May 1999 Soybeans (5000 bu, delivery in May, 1999), November 1999 Soybeans (5000 bu, delivery in Nov., 1999), June 1999 Lean Hogs (40000 lbs, delivery in June, 1999), and December 1999 Lean Hogs (40000 lbs, delivery in Dec., 1999). (Note: Lean Hogs futures prices represent lean values. The equivalence between lean and live prices is approximately: Live Price = 0.74 ´ Lean Price.)