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Hi, I am getting confused about the net reserves calculated in part Q12(i). I don't understand why the reserves we calculated are at the start...
How does a clearing house make money and thus ensure it's own capital stability? In the case of futures, there's no fee and margins don't provide...
Hi, With reference to the CMP question Ch1, q1.3 (on p.8), could you clarify the part of the response that says that an unlimited loss is matched...