Futures contracts are standardized. true false
A futures contract (future) is a standardized contract between two parties, to trade an asset at a specified price at a specified future date. The seller will deliver the underlying and the buyer will take delivery of the underlying and pay the agreed-upon price. Futures contracts are highly standardized in a number of ways: futures contracts must be for a homogenous commodity of a standardized type and quality; each futures contract must be for a standardized quantity; futures contracts must be in a single currency determined by the location of trade; and futures contracts must have a standardized delivery …