Subsection (d). Pub. L. 97-444, § 234 (2), deleted subsection (d), which provides for a transaction regime in accordance with the applicable provisions of this Chapter, where the Commission has defined the transactions referred to in points (b) and (c) of this Section as contracts for future deliveries within the meaning of this Chapter. The underlying assets include physical commodities or other financial instruments. Futures contracts describe the amount of the underlying asset and are normalized to facilitate trading on a futures exchange. Futures can be used for hedging or commercial speculation. Subsection (b). L. 99-641, subsection (b) as amended in general. Before the amendment, subsection. 1983 – subsection (c). Pub.
L. The ability to use a resource to provide different products and services is The agreement to provide a standardized product to a buyer at a certain time at a certain futures price is futures contracts are standardized, unlike futures contracts. Forwards are similar types of agreements that set a future price at the moment, but forwards are traded over-the-counter (OTC) and have customizable terms that are taken between counterparties. In contrast, futures contracts have the same terms, regardless of the counterparty. Futures are used by two categories of market participants: speculators and speculators….