Future A term used to designate all contracts covering the sale of financial instruments or physical commodities for future delivery on a commodity exchange. Future investment opportunities The options to identify additional, more valuable investment opportunities in the future that result from a current opportunity or operation. Future value The amount of cash at a specified date in the future that is equivalent in value to a specified sum today. Futures A term used to designate all contracts covering the sale of financial instruments or physical commodities for future delivery on a commodity exchange. Futures commission merchant A firm or person engaged.