The futures market differs from the forward market in that only a few currencies are traded; each currency has a standardized contract of a fixed amount and pre-determined dates; and contracts are...

The futures market differs from the forward market in that only a few currencies are traded; each currency has a standardized contract of a fixed amount and pre-determined dates; and contracts are traded only in a specific location. The participants in the futures market also include speculators, since the future contracts can be bought and sold before the contracts mature.