Futures contracts on commodities have been traded for a long time. In
USA, such contracts began trading on Chicago Board of Trading (CBOT) in
1860's.
In the past three decades, financial futures contracts have been
evolved.
They encompass a variety of underlying assets -- securities, stock
indices, interest rates & so on.
It was in America only that a formal beginning was made, when the
Kansas City Board Of Trade (KCBT) introduced stock index futures
contracts with the "Value line Index" serving as the underlying index.
USA, such contracts began trading on Chicago Board of Trading (CBOT) in
1860's.
In the past three decades, financial futures contracts have been
evolved.
They encompass a variety of underlying assets -- securities, stock
indices, interest rates & so on.
It was in America only that a formal beginning was made, when the
Kansas City Board Of Trade (KCBT) introduced stock index futures
contracts with the "Value line Index" serving as the underlying index.