NO.PZ2020020601000035
问题如下:
Explain why interest is paid on variation margin in OTC markets but not in exchange-traded futures markets.
解释:
Futures contracts are settled daily, so when variation margin is paid from A to B, it belongs to B. OTC derivatives are not usually settled daily, so variation margin from A to B belongs to A until contractual payments on the derivatives are required.
知识点是哪个?在原版书和讲义哪部分?谢谢老师。