请问老师

问题如下：

A credit derivative is a derivative contract in which the:

选项：

A.

clearinghouse provides a credit guarantee to both the buyer and the seller.

B.

seller provides protection to the buyer against the credit risk of a third party.

C.

the buyer and seller provide a performance bond at initiation of the contract.

解释：

B is correct. A credit derivative is a derivative contract in which the credit protection seller provides protection to the credit protection buyer against the credit risk of a third party.

A is incorrect because the clearinghouse provides a credit guarantee to both the buyer and the seller of a futures contract, whereas a credit derivative is between two parties, in which the credit protection seller provides a credit guarantee to the credit protection buyer. C is incorrect because futures contracts require that both the buyer and the seller of the futures contract provide a cash deposit for a portion of the futures transaction into a margin account, often referred to as a performance bond or good faith deposit.