NO.PZ2020020601000037
问题如下:
What is the difference between the criteria for setting initial margin in the cleared market versus the uncleared market?
解释:
In the cleared market, CCPs want initial margin to cover five-day price changes with 99% certainty. In the uncleared market, it is anticipated that close-outs will take longer and initial margin covers ten-day price changes with 99% certainty.
什么是cleared market and uncleared market?