what are futures contracts and forward contracts? describe two differences between them.?
 A forward contract is an agreement between two parties to buy or sell an asset at an agreed future point in time. 
A futures contract is a standardized forward contract that is traded on an exchange, like SAFEX. 
Example:For forward contracts, settlement of the contract occurs at the end of the contract, while in futures contracts are marked-to-market daily, which means that daily changes are settled day by day until the end of the contract. 