Comparing "forward" and "futures" exchange contracts, we can say that\ \ Multiple Choice\ \ forward contracts are traded on an organized exchange, while futures contracts are tailor-made by an international bank for its clients and are traded OTC.\ \ their only difference is in the way the underlying asset is priced for future purchase or sale: futures settle daily and forwards settle at maturity.\ \ they are both "marked-to-market" daily.\ \ their major difference is in the way the underlying asset is priced for future purchase or sale: futures settle daily and forwards settle at maturity, and a futures contract is traded on an organized exchange, while a forward contract is tailor-made by an international bank for its clients and is traded OTC.