3. In relation to futures, which is correct? Select one:

a. A futures contract is defined as a standardised agreement to buy or sell a particular asset or commodity at a future date at a currently agreed on price.

b. Futures represents a right to buy or sell a particular asset or commodity at a future date at a currently agreed on price.

c. When a futures trader first buys a futures contract they are required to pay a maintenance margin to the broker.

d. Futures are traded in over-the-counter securities markets.

e. At maturity the futures trader is required to pay the difference between the contract start and close values. Clear my choice