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Futures are contracts to buy or sell a certain underlying asset for a specific price and at a specific future date.
Wile E. Anvil entered into a futures contract with ACME to sell one million bushels of wheat at USD 4 per bushel to be delivered in May 2017.
Also called a futures contract, this is a type of derivative instrument. Futures can be settled in cash or physically. In concluding a futures contract, the party buying the underlying asset takes a long position whereas the seller assumes a short position. The buyer hopes to make a profit if the spot price at maturity is higher than the agreed-upon price (called the forward or delivery price) whereas the seller profits if the spot price ends up lower than the forward price. Futures are similar to forward contracts, but unlike forwards they are traded on a futures exchange and are highly standardized. In addition, the parties of a futures contract must deposit a margin as collateral against counterparty risk and maintain it at a pre-determined level as the actual spot price changes during the course of the futures contract.
Futures jsou kontrakty na koupi nebo prodej určitého podkladového aktiva za určitou cenu a k určitému budoucímu datu.
Wile E. Anvil uzavřel futures kontrakt s ACME na prodej jednoho milionu bušlů pšenice za cenu 4 USD za bušl s dodáním v květnu 2017.
Také se nazývá futures kontrakt, jde o typ derivátového nástroje. Futures mohou být vypořádány v hotovosti nebo fyzicky. Uzavřením futures kontraktu strana kupující podkladové aktivum vstupuje do dlouhé pozice, zatímco prodejce vstupuje do krátké pozice. Kupující doufá, že vytvoří zisk, pokud bude spotová cena při splatnosti vyšší než předem dohodnutá cena (nazývaná forwardová nebo dodací cena), zatímco prodejce bude mít zisk, pokud bude spotová cena nižší než forwardová. Futures jsou podobné forwardovým kontraktům, ale na rozdíl od forwardů jsou obchodovány na futures burze a jsou vysoce standardizované. Kromě toho strany futures kontraktu musí složit marži coby zálohu proti riziku protistrany a udržovat ji na předem stanovené úrovni, jak se skutečná spotová cena mění během trvání futures kontraktu.
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Simply subscribe to receive our Business Term of the Day at no charge to your inbox each business day, with explanation in English and Czech.
