Forward contracts tend to be created on organized exchanges like the International Money Market of the Chicago Mercantile Exchange.

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Forward contracts are typically traded in the over-the-counter (OTC) market, meaning they are not traded on organized exchanges like the International Money Market of the Chicago Mercantile Exchange. OTC trades are privately negotiated between counterparties rather than being standardized and traded on a public exchange.

Forward Contracts Tend to Be Created on Organized Exchanges Like