futures contract
Word Rarity
Rare
Frequency: Zipf frequency 3.81 in modern English
22
Scrabble Score
15
Letters
4
Syllables
10
Unique Chars
Meaning
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 stated price (the futures price).
Example Sentences
- "He led the way with futures contracts (by which buyer and seller fix a price, immune from market fluctuations, for commodities that do not even exist at the time, such as crops yet to be sown) when these were exotic financial instruments few had hitherto tried."