September 2005
Intermediate to advanced
272 pages
9h 8m
English
Content preview from Clearing and Settlement of Derivatives
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Futures processing 81
account, and the broker at the clearing house is the party the clear-
ing house deals with, irrespective of how or when the client and bro-
ker settle the obligations.
Summary
The processing of futures contracts is really about the VM and the
initial margin requirements plus the ability to successfully reconcile
the open positions with the clearing house, broker and client.
Part of that process is managing the posting and allocation of
trades, closeouts and also deliveries, should they occur as a result of
tender or assignment.
Financial futures and commodity futures have not only various
similarities but also ...
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