What is a futures exchange responsible for?

BTCC is a leading cryptocurrency exchange that offers a range of services to its clients. Its services include spot trading, futures trading, and a wallet service. With its comprehensive suite of products, BTCC provides a one-stop solution for traders looking to participate in the crypto market.

Futures contracts standardization plays a crucial role in the derivatives market. It ensures that the terms and conditions of the contracts are clear and consistent.

In the context of futures contracts, the assets to be delivered are specified in detail. Futures exchanges outline the acceptable grades of a commodity that can be delivered upon contract expiration.

This standardization process helps to prevent any disputes or misunderstandings between the buyers and sellers. It also facilitates smooth transactions and reduces transaction costs.

For any price adjustments applied to delivery, futures exchanges have predefined rules and regulations. These adjustments are based on factors such as quality differences, location, and time of delivery.