What do foreign exchange futures refer to
FxFut, short for “Forex Futures,” is a centralized form of Futures exchange in which two parties, through open outcry, buy or sell a foreign currency in a foreign currency and enter into a contract to deliver a standard quantity at a future date at an agreed price. Foreign EXCHANGE FUTURES, ALSO KNOWN AS CURRENCY FUTURES, ARE FUTURES CONTRACTS THAT convert one CURRENCY into another at the end of THE trading day according TO CURRENT CONDITIONS. Generally speaking, one of the two currencies is, in which case the futures price will be expressed as “X dollars per other currency”. The representation of futures prices for some currencies may differ from the corresponding representation of spot foreign exchange rates. Foreign exchange futures trading is the buying or selling of a certain amount of another currency in dollars at a fixed exchange rate on an agreed date. Foreign exchange futures trading and contract spot trading have similarities and differences...