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Futures Contracts and Exchange-Traded Futures

Financial future, futures contract, futures chain, futures option, futures transaction, E-mini futures, and underlying futures contract terms.

Futures Contracts and Exchange-Traded Futures is the financial-instruments landing page for futures contracts, forward contracts, index futures, rate futures, currency futures, commodity futures, delivery, carry, contango, roll yield, and forward pricing. It keeps related terms in one branch so readers can move from a broad instrument question to the article that owns the contract evidence.

Use this page when a futures or forward contract changes future delivery, settlement, hedge exposure, or pricing basis. Use the parent Futures, Forwards, and Contracts page when you need the broader instrument map. For an individual decision, confirm the contract, term sheet, prospectus, confirmation, exchange specification, or disclosure record before relying on the term.

Use the table below to move from this landing page into the term page that best matches the instrument evidence.

Key Terms in This Branch

TermUse it for
E-Mini FuturesE-Mini Futures connects future settlement, delivery, carry, margin, or forward-pricing mechanics to exposure management.
Financial FutureFinancial Future connects future settlement, delivery, carry, margin, or forward-pricing mechanics to exposure management.
Future ContractFuture Contract connects future settlement, delivery, carry, margin, or forward-pricing mechanics to exposure management.
Futures ChainFutures Chain connects future settlement, delivery, carry, margin, or forward-pricing mechanics to exposure management.
Futures OptionFutures Option connects future settlement, delivery, carry, margin, or forward-pricing mechanics to exposure management.
Futures TransactionFutures Transaction connects future settlement, delivery, carry, margin, or forward-pricing mechanics to exposure management.
Underlying Futures ContractUnderlying Futures Contract connects future settlement, delivery, carry, margin, or forward-pricing mechanics to exposure management.

Example in Use

A business expecting to buy a commodity can use a long futures position to reduce the risk of a future price increase.

What to Check

  • Underlying asset, contract size, expiration, delivery or cash-settlement terms, margin, and exchange or OTC venue.
  • Spot price, forward price, carry cost, funding rate, income yield, storage cost, and basis.
  • Hedging objective, roll schedule, delivery risk, liquidity, and counterparty or clearing exposure.
  • Effect on price risk, cash-flow timing, leverage, margin calls, and portfolio or business exposure.

Common Mistakes

  • Treating futures and forwards as identical despite standardization, clearing, and margin differences.
  • Ignoring roll yield, delivery terms, and basis risk when using futures exposure.
  • Using leveraged derivatives without understanding margin calls and loss potential.

Futures Contracts content is educational and does not provide personalized investment, tax, legal, accounting, valuation, derivatives, or securities advice.

In this section

Choose a subsection first. Deeper term pages live inside each subsection, which keeps large topic hubs readable.

E-Mini Futures

E-Mini Futures is a financial instrument concept used in contract analysis, payoff profiles, pricing, or risk transfer.

Financial Future

A financial future is an exchange-traded futures contract based on a financial asset, rate, index, or currency rather than a physical commodity.

Future Contract

A future contract is a standardized exchange-traded agreement to buy or sell an underlying asset at a specified future date and price.

Futures Chain

A futures chain lists available contracts for an underlying asset across expirations, prices, volumes, and other trading terms.

Futures Option

A futures option gives the holder the right, but not the obligation, to enter a futures contract at a specified price.

Futures Transaction

A futures transaction is a trade in a standardized futures contract used to hedge, speculate, or adjust market exposure.

Underlying Futures Contract

An underlying futures contract is the futures position delivered or referenced when a futures option is exercised or valued.

Revised on Sunday, June 21, 2026