Microsoft PowerPoint - PoF.ppt

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Definitionƒ 149

Futures

are similar to forwards except the following

features

ƒ

standardized

products (what?, where?, when?, how?)

ƒ

typically involve

daily settlement (“marking to market”)

ƒ

final settlement by offset

(i.e. no physical delivery)

Derivative securities: Futures - Introduction

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