NO.PZ2018111501000011
问题如下:
Suzuki is a Japanese working in United Kingdom. As he plans to move back to Japan, he decided to exchange his savings from GBP to JPY in the near future. During this period, he uses futures contracts in order to reduce currency risk exposure. The characteristics of futures contract he should significantly consider is:
选项:
A.the risk of daily margin calls
B.high transaction costs
C.the FX quotation is DC/FC or FC/DC.
解释:
A is correct.
考点:Using Derivatives in Currency Risk Management
解析:
Futures contracts是交易所交易的(exchange-traded),最大的特点是每日盯市(daily mark-to-market),因此有margin calls的风险,A正确。Futures与Foward的交易成本都比较低,需要考虑高交易成本的是option。外汇报价是DC/FC 还是FC/DC不会影响到对冲外汇风险的过程。
老师,这个是因为期货合约价格和资产本身价格不同产生的风险,还是因为保证金产生的风险?