题目
Each of the following statements about futures and/or forwards is true EXCEPT which is false?
选项
A.Margin requirements are the same on short futures positions as they are on long futures positions.
B.In the case of a futures contract, initial margin typically does earn interest, but variation margin does not
C.When an exchange clearinghouse or central counterparty (an OTC CCP) accepts a transaction, it both cases it assumes the credit risk of both buyer and seller
D.The delivery period is the same across commodities and exchanges, in order to prevent arbitrage, but the buyer (i.e., the long position) gets to make the decision on exactly when to receive delivery within the delivery period
答案
D
解析
D is doubly false. Delivery periods are defined by the exchange and vary by contract. Also, the short position gets to make the decision on exactly when to receive delivery within the delivery periodD是双重错误。交割期限由交易所规定，并因合同而异。此外，空头还可以决定在交割期内何时进行交割