【正文】
f the 7 available currencies. Examples: Euro = 125,000 British Pound = 62,500 7 FUTURES CONTRACTS e. Transaction costs: payment of mission to a trader f. Leverage is high 1.) Initial margin required is relatively low (. less than .02% of sterling contract value). 8 FUTURES CONTRACTS g. Maximum price movements 1.) Contracts set to a daily price limit restricting maximum daily price movements. 9 FUTURES CONTRACTS 2.) If limit is reached, a margin call may be necessary to maintain a minimum margin. 10 FUTURES CONTRACTS h. Global futures exchanges that are petitors to the IMM: 1.) Deutsche Termin Bourse 2.) International Financial Futures Exchange 3.) . Chicago Board of Trade 11 FUTURES CONTRACTS 4.) International Moary Exchange 5.) . Hong Kong Futures Exchange 12 FUTURES CONTRACTS B. Forward vs. Futures Contracts Basic differences: 1. Trading Locations 6. Settlement