A futures contract is an agreement in which the buyer agrees to receive assets at a specific price after a specific time, and the seller agrees to deliver assets at a specific price after a specific time. 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. The assets that both parties agree to exchange are called "targets". If an investor obtains a position in the market by buying a futures contract (that is, agreeing to buy it at a future date), it is called a long position or a futures long position. On the contrary, if an investor obtains a position to sell a futures contract (that is, to assume the contractual responsibility for future sales), it is called a short position or a short futures.