The TED spread reports the spread between:

		LIBOR and T-bill rates
		Spot and forward exchange rates between euros and US dollars.

Which one of the following is riskier in terms of default risk?

		CDs issued by banks in the US
		CDs issued in the Eurodollar market

Speculators in the derivatives markets:

		Trade both options and futures
		Trade options but not futures.
		Trade futures but not options

Counterparty risk is reduced in the case of futures markets by:

		The standardization of contracts.
		The use of clearing house arrangements.