Foreign currency futures contract

Foreign currency futures contract

Standardized and easily transferable obligation between two parties to exchange currencies at a specified rate during a specified delivery month; standardized contract on specified underlying currencies, in multiples of standard amounts. Purchased and traded on a regulated exchange on which margins are posted.

Currency Futures

A futures contract in which the underlying asset is a currency. Two parties agree to buy and sell a certain currency at a given exchange rate with respect to another currency at some point in the future. The market for currency futures contracts is important in estimating the future value of different currencies.
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A position in a foreign currency futures contract in relation to
Customers, primarily New York brokers, phone him with orders for foreign currency futures contracts or options.
Each of the option contracts has a trading unit equal to one half the size of foreign currency futures contracts on the IMM, (International Money Market.

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