{"id":53913,"date":"2025-08-20T09:00:00","date_gmt":"2025-08-20T07:00:00","guid":{"rendered":"https:\/\/www.11onze.cat\/?p=53913"},"modified":"2025-08-20T10:35:29","modified_gmt":"2025-08-20T08:35:29","slug":"protecting-yourself-uncertainty-ancient-practice","status":"publish","type":"post","link":"https:\/\/www.11onze.cat\/en\/magazine\/protecting-yourself-uncertainty-ancient-practice\/","title":{"rendered":"Protecting yourself from uncertainty, an ancient practice"},"content":{"rendered":"
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In an increasingly volatile and inflationary economic context, futures trading is once again gaining prominence. Although it seems like a modern and complex instrument, futures trading is a commercial mechanism with thousands of years of history. Civilisations such as the Egyptians and Romans already agreed on prices for goods before the harvest, thus protecting themselves from future fluctuations.<\/b><\/h3>\n

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Today, this system remains fully in force and sophisticated, <\/span>especially in organised futures markets such as the Chicago Mercantile Exchange (CME) or Euronext<\/b>. In these markets, all kinds of assets can be traded: <\/span>agricultural commodities<\/b> (such as wheat, coffee, sugar, or cotton), <\/span>precious metals<\/b> (such as gold, silver, or copper), <\/span>energy sources <\/b>(such as oil, natural gas or electricity), <\/span>international currencies<\/b> (dollar, euro, yen) as well as <\/span>stock indices<\/b> and <\/span>other derivative financial products<\/b>.<\/span><\/p>\n

The variety of tradable assets and their standardisation make these markets an essential tool for companies, institutional investors and governments seeking <\/span>to hedge against price risks, diversify portfolios or secure the supply of strategic resources<\/b>.<\/span><\/p>\n

But what exactly is a forward purchase?<\/b><\/h3>\n

A forward purchase<\/span> is a contract between two parties who agree, in the present, on the price of a product or asset that will be delivered or settled at a future date<\/b>. Unlike an immediate purchase, physical delivery or payment is not made at the time of signing, but later, according to the agreed schedule.<\/span><\/p>\n

These types of transactions are carried out in regulated markets, with <\/span>standardised rules that guarantee legal and financial security for both parties<\/b>. To protect the agreement, both parties must deposit an initial guarantee (called a \u201cmargin\u201d) that serves as a commitment to execute the transaction.<\/span><\/p>\n

Long positions and short positions<\/b><\/h3>\n

In financial jargon, <\/span>the terms long position and short position are fundamental to understanding how futures trading works<\/b>. Taking a<\/span> long position means committing to buy an asset on a specific future date<\/b>; conversely, having <\/span>a short position means committing to sell that asset at that time<\/b>. These positions do not necessarily involve physical possession of the product\u2014in fact, the contract is often settled before the expiry date through financial compensation.<\/span><\/p>\n

This mechanism allows <\/span>both producers<\/b> \u2014 who want to secure the sale price \u2014 a<\/span>nd industrial buyers or distributors<\/b> \u2014 who want to guarantee a stable purchase price \u2014 <\/span>to protect themselves against market uncertainty<\/b>.<\/span><\/p>\n

The <\/span>futures contract must include all the essential<\/b> information to be enforceable:<\/span><\/p>\n