spˈɑːt fjˈuːtʃɚz pˈæɹᵻɾi: ðə kˈɜːɹənt pɹˈaɪs əvə stˈɑːk ˈiːkwəlz ðə kˈɜːɹənt pɹˈaɪs əvə fjˈuːtʃɚz kˈɑːntɹækt dɪskˈaʊntᵻd baɪ ðə tˈaɪm ɹᵻmˈeɪnɪŋ ʌntˈɪl sˈɛɾəlmənt:
Spot futures parity: The current price of a stock equals the current price of a futures contract discounted by the time remaining until settlement: