This is modern form of exchange (see). Contracts for the supply of various products in the future are traded on it. Deals on the futures exchange are for commodities and the currencies (see), equity indexes (see), interest rates (see) and much more. Futures exchange is based on real stock prices. The Chicago Board of Trade, CBOT, was the very first futures exchange. It first appeared in 1848, and is now part of the largest exchange group in the world - CME, Chicago Mercantile Exchange. It is composed of NYMEX, New York Mercantile Exchange and its subdivision COMEX, Commodity Exchange. In addition, there is ICE, Intercontinental Commodity Exchange, which includes the NYBOT, New York Board of Trade and EUREX the European Exchange. It should be noted that less than 2% of all futures transactions end with the physical delivery of the goods or currency. The majority of traders (see) are engaged in speculation, so earning money on changes in prices of assets. More information about trading in futures can be found in chapter 14 of the book “Trading in the global currency markets” by Cornelius Luca.