In one month, Winthrop will receive a performance bonus of USD5,750,000. He believes that the US equity market is likely to increase during this timeframe. To take advantage of Winthrop’s market outlook, he instructs Tong to immediately initiate an equity transaction using the S&P 500 futures contract with a current price of 2,464.29 while respecting the policy weights in Exhibit 2. The S&P 500 futures contract multiplier is 250, and the S&P 500 E-mini multiplier is 50.
(Institute 365)
Institute, CFA. 2019 CFA Program Curriculum Level III Volume 4. CFA Institute, 5/2018. VitalBook file.
所提供的引文是一个指南。请在使用之前查看每个引文以确保准确性。
7
In preparation for receipt of the performance bonus, Tong should immediately:
buy two US E-mini equity futures contracts.
sell nine US E-mini equity futures contracts.
buy seven US E-mini equity futures contracts.
(Institute 366)
Institute, CFA. 2019 CFA Program Curriculum Level III Volume 4. CFA Institute, 5/2018. VitalBook file.
所提供的引文是一个指南。请在使用之前查看每个引文以确保准确性。
此题题干前提为5750000资金15%投入S&P500futures，我的问题是题目直接给出的是futures价格，而不是指数，我理解直接用5750000/2464.29即可，如果是指数才继续除以乘数50，可否从实务角度释一下futures价格、指数和乘数的关系？尤其这个乘数到底是什么意思
