持有期货的好处不就是 不用准备大量现金吗。。

问题如下：

Which of the following characteristics is not a benefit of derivative instruments (compared to ownership of the physical commodity) as a means of gaining commodity exposure?

选项：

A.Price transparency B.Non-cash benefits C.Liquidity

解释：

Non-cash benefits refer to the convenience yield, which causes a preference for owning the physical commodity rather than a derivative contract.A is incorrect in that derivatives provide price transparency while the market for physical commodities is much less transparent. C is incorrect in that the more frequent trading of derivatives on organized exchanges enhances liquidity while physical commodity markets are characterized by infrequent trading and thus poor liquidity.

题目问的不属于持有futures的好处的，那就是Non-cash benefits也就是convenience yield，这是指我们持有现货的一个方便随时开工生产的便利性收益。