NO.PZ202208260100000401
问题如下：
Match the following definitions with their corresponding forward pricing or valuation component.
选项：
A.
Statement 1 matches statement B.
B.
Statement 2 matches statement A.
C.
Statement 3 matches statement C.
解释：
Solution
A is correct.
Statement 1 matches statement B.
The forward contract MTM value between inception and maturity, Vt(T), is equal to the difference between the current spot price (adjusted by costs and benefits through maturity) and the present value of the forward price.
Statement 2 matches statement C.
The forward price, F0(T), is the future value of the underlying asset spot price (S0) compounded at the risk-free rate incorporating the present value of the costs and benefits of asset ownership.
Statement 3 matches statement A.
Under no-arbitrage conditions for a given underlying spot price, S0, adjusted by the costs and benefits, risk-free rate (r), and forward price, F0(T), the forward contract MTM value at inception, V0(T), should be equal to zero (ignoring transaction costs).
中文解析：
表述1和B是对应的。
表述1描述的是在合约期间的MTM值Vt (T)，应该等于当前现货价格(根据到期期间的成本和收益进行调整)与远期价格的现值之间的差值。表述为Vt (T)=St-F0(T)/(1+r)T-t
表述2和C 是对应的。
这里描述的是远期合约的定价：远期价格F0(T)是标的资产现货价格S0的未来价值，按无风险利率复利，并计入资产所有权的成本和收益的现值。
表述3和A是对应的。
表述3描述的是在期初时，远期合约的价值为0。
即在无套利条件下，对于给定的现货价格，S0，经成本和收益、无风险利率(r)和远期价格F0(T)调整后，远期合约初始MTM值V0(T)应等于零(忽略交易成本).
MTM是什么的缩写，是什么意思，麻烦老师。
