An exchange where futures contracts are traded by participants. Today, the majority of futures trading (or derivatives contracts that lock in future delivery of a commodity or security at a price set at present) occurs electronically. Futures trading is regulated by the commodities futures clearing commission (CFTC). A benefit of trading in futures is that, unlike most markets, futures can be traded 24 hours a day.
We don't know everything about the markets. We're just devoted to learners. Taken from those smarter than ourselves, here's how we define Futures Market.