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An airline can hedge fuel prices. An exporter can hedge currency exposure. A financial institution can hedge FX, interest-rate, volatility or portfolio exposure...
Yes, that is cross-market hedging and not what I was talking about with laughter. Futures were originally created for the purpose of farmers hedging commodities, and then options were created... and then futures options. Base commodities, physical real estate... anything can be hedged in that way. It's an entirely different ball of wax in contrast to what the average retail FX trader does.