Advantages of a derivatives exchange

1. The (futures) exchange guarantees the fulfillment of the trades.
2. The (futures) exchange calculates the payment obligations of the clearing members. (often even daily resettlement)
3. The (futures) exchange allows effective pricing for the derivatives
4. The (futures) exchange allows standardization (fixed quantity, fixed place, fixed delivery dates, standardized contract types)
5. The standardization work of an exchange organization leads to more liquidity for prospective trades. This liquidity is improved by simplified transactions, easy market access, the approval of different market participants by the exchange organization as well as low transaction fees