问题如下:
Many FMUs have developed innovative ways toclear and settle transactions that reduce the overall operating liquidityrequired by the system (i.e., liquidity savings mechanism). About the liquiditysavings mechanism, which of the following is NOT correct?
选项:
A. These tactics essentiallyincrease transaction throughput for a given amount of liquidity by reducing thesize of settlement positions (and settlement risk) and minimizing the cost ofidle liquidity for a participant.
B. Examples of liquidity savings mechanisms includetransaction netting (bilateral and multilateral)
C. FMUs use transaction throughput requirements (e.g.,requiring a certain percentage of outgoing transactions to be submitted by amid-day deadline) to achieve liquidity savings mechanisms.
D. In a deteriorating credit situation, an FMU maybegin to monitor a participant’s risk position and its initial and variationmargin collateral values in real-time to ensure sufficient coverage.
解释:
考点:对FMU Tools to Manage Intraday SettlementRisk的理解
答案:D
解析:
选项ABC属于FMU管理Intraday settlement risk中Liquidity savings mechanism方法,而选项D是属于管理Intraday settlement risk中通过Collateral管理风险。
A 为啥会本质上增加transaction呢,像netting不是减少交易吗?