Item A, there are two ways to perform futures trading: physical delivery and hedging liquidation, and most futures contracts are closed through hedging liquidation. The performance of forward trading mainly adopts physical delivery, although endorsement transfer can also be adopted, but the final performance is physical delivery; Item B, in futures trading, based on the margin system, the debt-free settlement system is implemented on the same day, and the settlement is carried out every day, so the credit risk is small. It takes a long time for a forward transaction to be completed and finally delivered in kind, during which various changes will occur in the market and various behaviors that are not conducive to performance may occur. The credit risk of forward transactions is high; Item D, the target of futures trading is the standardized futures contract uniformly formulated by the exchange, and the target of forward trading is the non-standardized contract reached by both parties through private consultation, with no restrictions on the commodities involved.