The official definition of futures contract refers to the standardized contract formulated by the futures exchange, which stipulates that a certain quantity and quality of goods will be delivered at a certain time and place in the future. Oral contract refers to the oral agreement reached by the buyer and the seller, which is not the same concept, so it is different.

Futures contracts are the objects of futures trading. In the process of futures trading, the price risk can be transferred smoothly and the risk income can be obtained.