A standardized contract set by the Commodity Exchange, specifying details such as the type of commodity (e.g., raw materials, fuels, agricultural products), quantity, delivery date, and pricing currency. Futures contracts are bought and sold between customers and the Commodity Exchange through the exchange's clearing members.

An agreement where the buyer has the right (but not the obligation) to buy (in the case of a Call Option) or sell (in the case of a Put Option) a specified quantity of a commodity at a predetermined price within a certain period. At the same time, the seller of the option is obligated to fulfill the corresponding buy/sell transaction if the buyer chooses to exercise the option. The terms of a commodity option, such as the type of commodity, contract size, expiration month, and pricing currency, are standardized according to international practices.

An agreement where two parties agree to buy/sell a commodity or price index at a specified quantity at the present time and agree to sell/buy the same commodity or price index at a specified future date. Settlement at maturity of the commodity swap is conducted through payment of the price difference between the two parties.

Commodity derivatives are contracts valued based on the price of an underlying asset, which in this case is a commodity. These contracts are traded at a predetermined price for future delivery.

Contract for Difference (CFD): A contract between two parties where the seller pays the buyer the difference between the current price of the underlying asset and the price at the time the contract was signed, in the event of a price increase, and vice versa. With CFDs, traders can trade various types of assets without needing to own them directly.

Complex Commodity Price Options Contracts (Contracts of Commodity Price Options) - Structured Contracts (zero premium option or spread or extendibles)

These are commodity derivative contracts that combine commodity price options and/or futures contracts, swaps. The execution and settlement mechanisms are determined by separate agreements between the parties.

The types of commodities that qualify as deliverable assets for settlement of a futures contract. Commodities used for delivery on the final settlement date of the futures contract must have quality equivalent to the underlying asset and meet the conditions specified by the Commodity Exchanges.

The price determined at the end of the trading day used to calculate the daily profit and loss of positions.

The price determined on the last trading day to establish the payment obligations upon contract execution.

An agreement between two parties to buy or sell an asset at a predetermined future date. In this type of contract, the date of agreement and the delivery date are entirely separate. Unlike options contracts, where the holder has the right but not the obligation to exercise their option, in a forward contract, both parties are legally bound to fulfill their contractual obligations, unless both agree to cancel the contract.