The role of the futures exchange is similar to the role of a stock exchange. Just like stock trading, exchanges offer a safe and efficient place for futures trading. Contracts are awarded through the clearing house of the Bourse. Technically, the clearing house buys and sells all contracts. In an efficient market, supply and demand should balance at a futures price representing the present value of an impartial anticipation of the price of the asset at the date of delivery. This relationship can be presented as: on the other hand, in a flat and illiquid market or in a market where market participants have been deliberately deprived of significant quantities of the deliverable asset (an unlawful act known as a market agreement), the price of market compensation for futures can still constitute the balance between supply and demand, but the relationship between this price and the expected future price of Erts heritage may collapse. In many cases, options are traded on futures contracts, sometimes simply called „futures options“. A put is the option to sell a futures contract and a call is the option to buy a futures contract. For both, the exercise price of the option is the declared futures price at which the future is traded when the option is exercised. Futures are often used, as they are Delta One instruments. Futures calls and options can be valued in the same way as traded assets using an extension of the Black Scholes formula, namely the Black model. For futures options for which the premium is only due until they are settled, positions are usually called fution because they behave like options, but present themselves as futures contracts. Portfolio-level investment fund managers and fund sponsors can use financial asset futures to manage the risk of interest rate changes or portfolio duration without making cash purchases or futures sales of bonds.
 Investment companies that receive capital calls or inflows in a currency other than their base currency could use futures contracts to hedge the foreign exchange risk of this inflow in the future.  However, futures also offer opportunities for speculation, since a trader who predicts that the price of an asset is going in a certain direction may enter into a contract to buy or sell it at a price that generates a profit (if the forecasts are correct). In particular, if the speculator is able to profit from it, the underlying commodity traded by the speculator would have been saved in an era of surplus and sold in times of distress, which, over time, would offer consumers of the commodity a more favorable distribution of the commodity.  Commodity futures allow economists to make price assessments and forecasts of commodity prices. These values are partly determined by traders who trade futures, as well as by analysts who monitor these markets. Futures markets are regulated by the Commodity Futures Trading Commission (CFTC). The CFTC is a federal agency created by Congress in 1974 to ensure price integrity in the futures market, including the prevention of abusive business practices, fraud, and the regulation of brokerage firms active in futures trading. A futures contract differs from a futures contract in two respects: first, a futures contract is a legally binding agreement for the purchase or sale of a standardized asset on a set date or during a given month. Secondly, this transaction is facilitated by a futures exchange.
To avoid confusion, remember that futures and futures are the same things. . . .