Definitions for futures contract
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Princeton's WordNet
futures contract(noun)
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
Wiktionary
futures contract(Noun)
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 price (the futures price).
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"futures contract." Definitions.net. STANDS4 LLC, 2013. Web. 18 Jun 2013. <http://www.definitions.net/definition/futures contract>.

