this thread is on the settlement of bond futures, it's the most active and liquid futures contracts in the exchanges. yet I don't get it. why would anyone buy those futures contracts? it's paying less than 1% for 10 years? bond technically on settlement day, the buyer who owns the futures contract has to wire $100,000 USD to the broker or the gov't or Federal reserve if he wants those notes right? where can I borrow money at 1% seriously..why would anyone buy it? is it just for trading and hedging that is why people short and long those futures contracts. and nobody or only a frraction actually settle those futures contracts and send the t$100,000 cash to buy the bond?