Commodities futures involve buying or selling a contract for delivery of a standard quantity of a particular commodity at a price by a certain date in the future. Futures contracts are not securities by Act of Congress nor is their purchase or sale subject to a doctrine of suitability. Useful for price discovery and hedging, adequate risk disclosure is vital and an expert in futures cases needs a background in trading futures and futures regulation. Equally important is the knowledge to analyze accounts and present details to judges, juries, regulators or arbitrators, who usually need assistance in transitioning securities knowledge into the futures world. Example: Since price discovery is one of the major purposes of futures contracts, the concept of trading on inside information is different from insider trading with securities.