Question: Question 18 (a) Explain the difference between initial margin and variation margin when applied toa futures contract. [4] (b) Do both parties have to pay

Question 18 (a) Explain the difference between "initial margin" and "variation

Question 18 (a) Explain the difference between "initial margin" and "variation margin" when applied toa futures contract. [4] (b) Do both parties have to pay variation margin on a futures contract? [1]

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