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A futures contract over a 9 0 day bank bill that has $ 1 m face value Exercise 1 : Bank Bill Futures Pricing A

A futures contract over a 90 day bank bill that has $1m face value
Exercise 1: Bank Bill Futures Pricing
A trader buys 1 bank bill futures contract at 98.97. How much underlying exposure have they purchased?
Exercise 2: Bank Bill Futures
The same trader sells the bank bill futures contract 10 days later at 99.16. What was their profit? (hint: calculate sale value to 2 decimal places as $A is a decimal currency).
Exercise 3: Tick Value (aka Point value)
A trader buys one bank bill futures contract at 99.14 and sells it at 99.15. How much was their profit?
Exercise 4: Variable Tick Value
A trader buys one bank bill futures contract at 92.14 and sells it at 92.15. How much was their profit?
Exercise 5: Trading Profits
A trader goes long 15 Bank bill futures at 99.56, sells 10 at 99.58, buys 20 at 99.63, sell 30 at 99.61, and the market closes at 99.58. What was her profit on the day?

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