What statement$($s$)$ below is$($are$)$ true about forward contracts and futures contracts?

They were created and developed to facilitate trade of physical commodities in the market.

The main objective with the creation of these contracts was to provide speculators with a new tool that they could use to make money.

Both contracts are essentially used to trade physical commodities for future delivery.

The specifications of futures contracts are fully standardized, while the specifications of forward contracts can be customized to whatever buyers and sellers agree on$.$