http://www.fxstreet.com/education/related-markets/forwards-and-futures/http://www.fxstreet.com/education/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/education/related-markets/forwards-and-futures/2007-05-16.html1 Forward v futures Forwards and futures contracts are both agreements to buy or sell a quantity of a financial or physical commodity (known as the underlying asset) at given price, on a specific future date. • A forward contract is a private over-the-counter transaction between counterparties known to each other, on terms agreed between themselves. A futures contract is a forward contract that is traded on a public exchange like the International Money Market (IMM) division of the ChicagoWed, 16 May 2007 08:54:40 GMThttp://www.fxstreet.com/education/related-markets/info@traderhouselate.st (Trader House Network)http://www.fxstreet.com/education/related-markets/forwards-and-futures/2007-05-16.html