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What does a futures translation contract mean?
Futures conversion contracts have the following meanings:

1 is an agreement that the buyer agrees to receive the assets at a specific price after the specified time, and the seller agrees to deliver the assets at a specific price after the specified time.

2. The price that both parties agree to use in future transactions is called futures price. The designated date on which both parties must conduct transactions in the future is called settlement date or delivery date.