Comparing "forward" and "futures" exchange contracts, we can say that:

A) They are both "marked-to-market" daily.

B) 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.

C) A futures contract is negotiated by open outcry between floor brokers or traders and is traded on organized exchanges, while forward contract is tailor-made by an international bank for its clients and is traded OTC.

D) b) and c)