The article discusses futures contracts and markets in the USA. It explains what futures contracts are, how they work, and who participates in them. The article also looks at the history of organized markets, the role of clearinghouses, and the types of commodities and financial instruments traded. It explores the pricing of futures contracts and compares them to stock and options prices. The article provides insights into the origin of futures trading, the basic elements of futures contracts, and the organization of futures markets. Additionally, it includes information on forward contracts and discusses the Euromarkets and the swap market.