麻烦分别画一下Under bilateral netting和ccp的结果呗

问题如下：

A junior risk analyst at a consulting firm is reviewing the operational arrangements of bilateral netting and central clearing of derivative trades. The analyst examines the following bilateral trades of three firms:

• Firm 1’s exposure to Firm 2: AUD 90 million

• Firm 2’s exposure to Firm 1: AUD 60 million

• Firm 1’s exposure to Firm 3: AUD 12 million

• Firm 3’s exposure to Firm 1: AUD 70 million

• Firm 2’s exposure to Firm 3: AUD 57 million

• Firm 3’s exposure to Firm 2: AUD 0 million

Which of the following statements is correct?

选项：

Under bilateral netting, Firm 2’s net exposure is AUD 27 million.

Under central clearing, Firm 3’s net exposure is AUD 0 million.

解释：

D is correct. The CCP’s net exposure is AUD 28 million under central clearing. We express the positions – through the process of novation and netting – and present the results shown both in the table and the explanations below (note that a negative net exposure means a zero exposure)