The terms of futures contracts, such as the quality and quantity of the commodity and the delivery date, are
A) specified by the buyers and sellers.
B) specified only by the buyers.
C) specified by the futures exchanges.
D) specified by brokers and dealers.
E) None of the options are correct.

Question

Quizplus · Accepted Answer

Futures contracts' terms, including the quality and quantity of the commodity and the delivery date, are standardized and specified by the futures exchanges. This standardization facilitates the trading of these contracts on the exchange.

The Terms of Futures Contracts, Such as the Quality and Quantity