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PaisleyPPx · 2020年02月16日

问一道题:NO.PZ2018062007000088

问题如下:

Which of the following statements regarding the settlement of forward contracts is correct?

选项:

A.

Contract settlement by cash has different economic effects from those of a settlement by delivery.

B.

Non- deliverable forwards and contracts for differences have distinct settlement procedures.

C.

At cash settlement, when the long party acquires the asset in the market, it effectively pays the forward price.

解释:

C is correct. In the case of cash settlement, the long can acquire the asset, effectively paying the forward price, F0(T). A is incorrect because forward contracts settled by cash or by delivery have the same economic effect.

B is incorrect because both non- deliverable forwards and contracts for differences can settle by an exchange of cash.

老师 这道题目考察什么知识点,三个选项能不能都解释一下,辛苦了。

1 个答案

xiaowan_品职助教 · 2020年02月17日

同学你好,这道题考察的是forward合约结算交割的相关概念。A选项是指现金交割和实物交割的economic effects是一样的,因为现金交割也是以交割时刻实物的价格进行交割;B选项NDF也是现金交割,所以交割流程没什么不同。

这道题的相关知识点在Settling A Forward Contract 这一节的视频中有详细讲解,同学可以参考~