Futures exchanges are organizations whose task is to simplify and facilitate futures trading. Thanks to the futures exchange, sellers and buyers of physical goods do not need to look for customers trying to find more favorable terms of transactions.
The structure of futures exchanges is no different from any other stock market. There is also an operating room and the exchange's Charter, for violation of which there are penalties. Like any other market, the futures exchange is regulated by either government or public organizations.
Futures exchanges are the most liquid and efficient. Efficiency lies in the simplicity and speed of transactions. It is enough to have an account in a brokerage office to access futures trading.