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Explain futures contracts, what are the uses of such investment tool for a portfolio, what are the required criteria for a future contract to be

Explain futures contracts, what are the uses of such investment tool for a portfolio, what are the required criteria for a future contract to be valid and exchangeable, what types of future contracts are there, how does margin work in the future contract market. Give some examples of current futures contracts traded in the CBOE and what prices they are at.

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