FUTURES CONTRACT Definition

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FUTURES CONTRACT is an agreement to buy or sell a specific amount of a commodity or financial instrument at a specified price on a specified future date. Futures con­tracts are traded on a commodity exchange and used both for speculation and hedging.

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GOING LONG is the purchase of commodities, bonds, or stock with no immediate intention of selling them, i.e. the purchase is for long term investment or speculation. See GOING SHORT.

N as the fifth letter in a Nasdaq stock symbol indicates that the issue is the third class of preferred shares in the company.

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