Contract Unit

Contract Unit

A standardized size represented in a single option or futures contract. For example, a contract unit may be so many bushels or so many kilograms. The contract unit differs according to the commodity that underlies the contract.
References in periodicals archive ?
recently completed the sale of its contract unit to the owners of Best Home Furnishings Inc., an upholstered furniture maker based in Ferdinand, IN.
According to the exchange, the contract unit of diesel oil futures is 100 kiloliters, and price quotations will be made per kl.
"Some of our contract units with non-Hubbard refrigeration systems were replaced recently with further contract units and we insisted on Hubbard systems being fitted.