In this heading word meaning reveals: forward contract, future operations, hedging.
The forward contract (English forward forward, in advance) – the contract on the goods purchase, providing receipt of the goods to the buyer after the conclusion of the contract.
Future operations (transactions) (English futures <futurebudushhee) – urgent transactions at the exchanges, representing purchase and sale of primary goods, currencies, financial and credit instruments on fixed at the moment of the conclusion of the transaction to the price, with operation execution through a certain period (till 2-3 years) and a providing repurchase right.
Hedging – (English hedge – to protect, insure) – the term which is using in bank, exchange and commercial practice for designation of various methods of insurance upon possible change of the prices (exchange rates) at the conclusion of transactions which execution will occur in the future. When hedging the seller (buyer) of the goods signs the contract on its sale (purchase) and at the same time carries out the future transaction of opposite character. In this case any changes of the price brings to sellers (buyers) loss under one contract and a prize on another.