This means that the nominal value of each futures contract is also reduced by 50 %. (cannontrading.com)
The underlying value of the futures contract for a particular instrument is then priced according to the actual asset itself, whether gold, crude, an index or individual stock. (fxempire.com)
Option contract terms will extend a right or require an obligation with respect to the future value of the futures contract. (unitedfutures.com)