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15. Variation margin is which of the following? a. margin deposited as a result of marking-to-market b. the difference in margin between hedger and speculator

15. Variation margin is which of the following?

a. margin deposited as a result of marking-to-market

b. the difference in margin between hedger and speculator

c. margin differences according to trading style

d. margin set by the variability of a futures price

e. none of the above

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