What key risks associated with forward contracts do futures contracts aim to mitigate?

How does the 'core transactional structure' of futures contracts compare to that of forwards contracts?

What is the role of an 'exchange' in the context of futures contracts?

How do futures contracts address the challenge of finding a counterparty, a common issue with forwards contracts?

What is meant by the statement that 'Futures Contract mimics the underlying'?

How do futures contracts differ from forwards contracts in terms of customization?

What is the primary function of 'margin' in futures trading?

What happens to a futures contract upon reaching its 'expiry date'?

How is the 'contract value' of a futures agreement typically calculated?

What is the key distinction between 'spot price' and 'futures price'?