<p>The objective of this article is to analyze the futures market as a protection mechanism against exchange risk for foreign trade activities carried out by Colombian SMEs, given the impasses they have faced for decades to enter international trade. Therefore, it begins by explaining the exchange risk, followed by a theoretical compilation on the derivatives market, especially future contracts, as one of the most attractive hedging mechanisms for Colombian companies and interesting for investors in terms of risk reduction. In international prices, in the exchange rate of currencies and in stock prices. Therefore, the research method used is descriptive, since a recount is made of the inconveniences that these companies currently face in accessing international markets.</p>