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Question 3 (7 points) Trades among three members, A, B and C, are settled via multi-lateral netting with a centralized counterparty (CCP). The trades

Question 3 (7 points) Trades among three members, A, B and C, are settled via multi-lateral netting with a centralized counterparty (CCP). The trades are listed below: i) A buys 5 shares from B ii) B buys 10 shares from A iii) A buys 7 shares from D iv) A sells 10 shares to D v) B sells 15 shares to D What is the net settlement between the CCP and member A?

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