Foreign currency futures contract

Definition:

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.

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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

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Cumulative voting

A system of voting for directors of a corporation in which shareholder's total number of votes is equal to the number of shares held times the number of candidates.

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