It is an agreement that obliges the parties involved to purchase a certain number of securities, at a scheduled date and at a predetermined price. In the futures markets, the asset being traded is the underlying asset. A future is a contract through which one undertakes to buy or sell a financial asset or commodity at a predetermined price within a set period of time. The price of the future will fluctuate within that period, according to how the price of the financial asset or commodity taken as a benchmark fluctuates itself. Due to this dependence on the price of other assets, they are generally referred to as a derivative product.