Answer: A, B, C, D

The characteristics of futures contracts are as follows: ① Using standardized contracts, futures contracts vary in commodity variety, quality, quantity, delivery time and location, etc. Standard terms have been determined in advance; ② Most futures contracts are performed through hedging, and only a small part undergoes physical delivery. The vast majority of contracts will be closed out before the delivery period; ③ The performance of the contract is performed by the futures exchange or The settlement company provides guarantee; ④The price of the contract has a minimum unit of change and a floating limit.

Futures contracts are traded on the exchange.