NO.PZ2024061801000102
问题如下:
Which of the following statements regarding the margining process on an exchange is correct?
选项:
A.
The initial margin is calculated as a function of the futures price.
B.
CCPs pay interest on both the initial margin and the variation margin.
C.
The initial margin or a futures contract is negotiated between the two parties directly.
D.
When providing noncash margin, the haircut is positively correlated with the price volatility of the underlying asset.
解释:
D 折扣会随着标的资产价格波动的增加和减少而相应调整。初始保证金是根据期货价格波动性计算的,并由交易所决定(而不是由双方决定)。中央对手方(CCP)仅对初始保证金支付利息。
这样是negative relation