Fchersnaya trade originated from stock trading real goods. Initially, the exchange was just the place where were Wholesale trade deal with the cash exchange goods, with delivery to the buyer immediately or soon as possible. Parallel to this process was the development of trade in goods or samples offered for exchange, with the delivery of a short-term (typically calculated in months). In the latter case, the product was either already produced, or it had yet to produce. Unlike trade in goods for immediate delivery, trade with the delivery of a short-term demands that the Contracting Parties shall decide, and specific questions about as a future product, the amount of shipments, etc. Transactions entered into with a delivery for the future, as opposed to contracts for immediate delivery of goods require more precise standards and ensure their performance. In other words, with the development of heavy industry and the consequent requirement was necessary socially acceptable standards of commodity transactions, on the one hand, and guarantee their performance – On the other. If standardization of transactions makes their conclusion, and thus leads to an increase in turnover, the guarantee requires that an organization that takes on these tasks.
This task is successfully performed Exchange, who spend a great job of standardizing the conditions of the transactions and are the guarantors of their execution. System of guaranteeing the execution of transactions has evolved in two directions. On the one hand, exchange an insurance, guarantee supplies of commodities, on the other – has received extensive development mechanism of the resale of previously concluded exchange contracts, allows the seller or the buyer, instead of withdrawal exchange contract (due to certain economic conditions) to sell its contractual obligations or to buy a new one.