Which of the following is correct? Forward contracts are essentially exchange traded arrangements with no external guarantees in case of default. For forward contracts, cash flows may be payable on a daily basis if the market position moves against the trader. Forward contracts are standardised contracts, the prices are marked to market daily. For futures contracts, all cash flows are required to be paid at one time on contract maturity. For forward contracts, all cash flows are required to be paid at one time on contract maturity