Options and futures are generally interchangeable terms, and represent a contract to buy a specific asset at a specific price at a future date. (entrepreneur.com)
An Interest Rate Future is an agreement to buy or sell a debt instrument at a future date for a price fixed today. (kotaksecurities.com)
Essentially you are buying plane tickets right now to use at a future date, unless of course you are a few thousand miles away from an award ticket. (thepointsguide.com)