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{{a|g| | {{a|g|{{image|Criswell|jpg|The Future’s not what it used to be}}}}{{d|Futures|/ˈfjuːʧəz/|n|}} | ||
[[Derivative]] contracts, usually traded on exchange, obliging parties to buy or sell an [[underlier]] at a predetermined future date at a pre-agreed price on expiry, whatever the prevailing market price of the underlier may be at that time. A future, like an option, is an [[exchange-traded derivative]]. These are standardised, simple contracts: traditionally the dullest of all financial contracts — but hte process of clearing and executing them is positively Kafkaesque. | [[Derivative]] contracts, usually traded on exchange, obliging parties to buy or sell an [[underlier]] at a predetermined future date at a pre-agreed price on expiry, whatever the prevailing market price of the underlier may be at that time. A future, like an option, is an [[exchange-traded derivative]]. These are standardised, simple contracts: traditionally the dullest of all financial contracts — but hte process of clearing and executing them is positively Kafkaesque. | ||