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forward contract
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forward market
for·ward mar·ket (plural for·ward mar·kets)


noun 
Definition:
 
U.K. market in futures: a financial market in which contracts are entered for the purchase and sale of commodities and stocks that are to be delivered at a future date
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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