Source: https://mochatrade.com/learn/glossary/futures-contract

# Futures contract
URL: https://mochatrade.com/learn/glossary/futures-contract
Last modified: 2026-10-17

A futures contract is an exchange-traded agreement to buy or sell at a set price on a set date, settled daily against margin. It binds both sides, and at expiry it converges to the real price, which [the Module 0 quiz checks](https://mochatrade.com/learn/start-here/quiz). Futures began on [rice at Dojima and grain in Chicago](https://mochatrade.com/learn), and [index futures are the US market price overnight](https://mochatrade.com/learn/us-market-structure/how-us-stock-prices-form).

## Related terms

- Index futures (E-mini S&P 500): https://mochatrade.com/learn/glossary/index-futures
- Options contract: https://mochatrade.com/learn/glossary/options-contract
- Strike price and expiry: https://mochatrade.com/learn/glossary/strike-price-and-expiry
- Leverage ratio: https://mochatrade.com/learn/glossary/leverage-ratio
- Call option: https://mochatrade.com/learn/glossary/call-option
- Perpetual futures: https://mochatrade.com/learn/glossary/perpetual-futures

Educational content only. Not investment advice. Leveraged products magnify losses as well as gains.