请具体讲一下谁是卖方，谁是卖方？

问题如下：

A credit derivative is a derivative contract in which the:

选项：

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

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

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.

中文解析：

信用衍生品是信用保护卖方向信用保护买方提供防范第三方信用风险的衍生品合同。B正确。

A是错误的，因为清算所为期货合同的买方和卖方提供信用担保，而信用衍生品是在双方之间，信用保护卖方向信用保护买方提供信用担保。

C是不正确的，因为期货合同要求买卖双方提供一笔保证金，将期货交易的一部分存入保证金账户，通常称为履约保证金保证金。