Fx Futures

For all practical purposes, yes. Futures contracts are cash settled daily based on the settlement price. If price moves in your favor, you are paid the amount it moves in your favor. If it moves against you, you pay the amount it moves against you. The settlement price determines how these payments are large. If the euro settled at $ 1.44/euro yesterday and today, moved to $ 1.45/euro, then the long shorts pay $ 1,250 per contract (125,000 euros per contract * $ 0.01/Euro, long shorts pay because the proposed price up). If she were to fall to $ 1.43/euro place sucks shorts pay $ 1,250 (same calc, long shorts pay because the price moved down). Rather than being the price of the transaction as in many markets, price regulation is in fact determined by the exchange. However, it is generally close to the last transaction number.