| 单词 | futures contract |
| 释义 | futures contract An agreement to buy or sell a fixed quantity of a particular commodity, currency, or security for delivery at a fixed date in the future at a fixed price. Unlike an option, a futures contract involves a definite purchase or sale and not an option to buy or sell; it therefore may entail a potentially unlimited loss. However, futures provide an opportunity for those who wish to hedge against changes in price. In London, futures are traded in a variety of markets. Financial futures are traded on the London International Financial Futures and Options Exchange; the London Commodity Exchange, which incorporates the Baltic International Freight Futures Exchange, deals with shipping and cocoa, coffee, and other foodstuffs; the London Metal Exchange with metals; and the International Petroleum Exchange with oil. In these futures markets, in many cases actual goods (see actuals) do not pass between dealers, a bought contract being cancelled out by an equivalent sale contract, and vice versa; money differences arising as a result are usually settled through a clearing house (see also London Clearing House). In some futures markets only brokers are allowed to trade; in others, both dealers and brokers are permitted to do so. See also: |
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