Futures Contracts are very similar to forwards by definition except that they are standardized contracts traded at an established exchange unlike Forwards which are OTC contracts
Backwardation vs Contango. Is this English in the first place? I am sure it must sound crazy but don't you worry, we will make you understand all about it.
In the world of finance, settlement of securities including derivatives is a business process whereby the contract is executed on a pre-decided settlement date.