d) Explain the difference between a Credit Default Swap and a Total Return Swap. [6 marks] e) Explain the concepts of Margin, Initial Margin and Margin Calls in the context of buying a Futures Contract. [4 marks] f) Some financial Futures contracts (e.g. bond Futures) give the seller a choice of the exact security that is delivered at maturity. What is the consequence of this choice for the price of the Futures and the security concerned? [4 marks] [Total 20 marks] END OF QUESTION SIX d) Explain the difference between a Credit Default Swap and a Total Return Swap. [6 marks] e) Explain the concepts of Margin, Initial Margin and Margin Calls in the context of buying a Futures Contract. [4 marks] f) Some financial Futures contracts (e.g. bond Futures) give the seller a choice of the exact security that is delivered at maturity. What is the consequence of this choice for the price of the Futures and the security concerned? [4 marks] [Total 20 marks] END OF QUESTION SIX