contract unit

Definition

Forex

  • The amount of the commodity or currency involved in a contract. For Forex, there are two separate currencies that are paired together at a specified rate in the contract. The contract unit in this case is typically the foreign currency. The standard on Forex is 100,000 contract units (of the foreign currency). However, contracts for smaller blocks can and often do trade.
http://www.dictionarycentral.com/definition/contract-unit.html