Centred around Euronext Paris (the French arm of the Euronext group), Futures & Options France offers investors and companies flexible and efficient ways to manage risk and speculate on market trends. The most notable futures contracts are the CAC 40 Future and CAC 40 Options, based on the CAC 40 index, which comprises the 40 most significant companies listed on Euronext Paris. Individual equity options are also popular among traders and investors to speculate on price movements of shares listed on the Paris stock exchange and/or to protect against adverse market movements. While stock indices and equities are widely represented, there are also Futures and Options on interest rates and commodities. On the interest rate side, there are French government bonds (OAT Futures and Options on OAT Futures). Although Euronext Paris offers a variety of derivative products, the majority of commodity derivatives, particularly energy and metals, are still generally traded on other specialist exchanges such as the London Metal Exchange or ICE Futures. Finally, it should be borne in mind that interest rate and commodity futures and options are complex financial instruments that require a thorough understanding of the markets and the associated risks. Trading in futures and options therefore requires a thorough understanding of the products, markets and trading strategies involved.