I, an insider, don't know how to answer your question. What about the exchange? The customer defaults, the first is the customer's deposit. Then the risk reserve of futures companies, and finally the exchange. Moreover, transactions on regular futures exchanges generally do not default. Because the customer's margin is always greater than the investment loss. For example, if you paid a deposit of 100W, the current contract is not good for you, and you lost 80W, so you will deliver it when it is due. It doesn't matter if you break the contract. There is a strong balance here. Non-professionals are not advised to touch futures.