How are these contracts settled by delivery or by cash


Compare forward contract and futures contract in terms of the following:

1. Are they standardized agreements as to the delivery date and quality of the underlying asset

2. Where are they traded?

3. What are underlying assets for these contracts?

4. How are these contracts settled? By delivery or by "Cash settlement"?

5. Regulation of futures and forward markets.

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Financial Management: How are these contracts settled by delivery or by cash
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