A trade is a legally binding contract between two parties

A physically settled trade requires one party to deliver one or more commodities to the other party at a time and location specified in the trade terms, in return for one or more cash payments

A financially settled trade requires both parties to agree the value of one or more underliers, and make one or more cash payments dependent on those values

In general, trades have the following dimensional attributes

Commodity

Delivery location

Delivery period

Counterparty

Broker

Trades also have the following non-dimensional attributes

Price

Volume

See also Execution