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give an example of a market maker creating (1) a plain vanilla swap, (2).a differential swap and (2)a margin crack swap. In each example show

give an example of a market maker creating (1) a "plain vanilla" swap, (2).a differential swap and (2)a margin crack swap. In each example show how this price risk could be hedged.

the markets maker could be: crude and petroleum products, natural gas or power

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