Currency futures are very similar to forward contracts, except that they are standardized and are more appropriate for firms that prefer to hedge in smaller amounts.

Name: Currency futures are very similar to forward contracts, except that they are standardized and are more appropriate for firms that prefer to hedge in smaller amounts.
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Currency futures provide a standardized way to hedge currency risk, making them suitable for firms that need to hedge smaller amounts.

Currency Futures Are Very Similar to Forward Contracts, Except That