is a futures contract a form of a forward contract
A futures contract â often referred to as futures â is a standardized version of a forward contract that is publicly traded on a futures exchange. Like a forward contract, a futures contract includes an agreed upon price and time in the future to buy or sell an asset â usually stocks, bonds, or commodities, like gold. futures contract is a standardized contract, traded on a futures exchange, to buy or sell a certain underlying instrument at a certain date in the future, at a specified price. Structure & Purpose. Customized to customer needs. Usually no initial payment required.