1.

Today’s settlement price on a Chicago Mercantile Exchange (CME) Yen futures

contract is $0.8011/¥100. Your margin account currently has a balance of $2,000/ 1
contract (and the maintenance margin is $800/ 1 contract). The next 7 days’ settlement
prices are $0.8057/¥100, $0.7996/¥100, $0.7985/¥100, $0.7585/¥100, $0.7085/¥100,
$0.8285/¥100, and $0.8595/¥100. (The contractual size of one CME Yen contract is
¥12,500,000).
a. If you have a long position in two futures contracts, the changes in the margin account
from daily marking-to-market, what will result in the balance of the margin account
after the 7th day be?
b. If you have a short position in two futures contracts, the changes in the margin account
from daily marking-to-market, what will result in the balance of the margin account
after the 7th day be?

2. On the Vietnam Future market at 1st August, a Dollar future contact is 19.100
VND/USD. Known as,
 The contractual size is 50,000USD
 The initial performance is 5,000,000VND/ one contract
 The maintenance margin is 2,500,000VND/ one contract
From 1st to 8th August, the foreign exchange rate will be the following:
Date Settlement
price
At the 19.090
end of
1st/8
2nd /8 19.205
rd
3 /8 19.185
th
4 /8 19.270
th
5 /8 19.288
th
6 /8 19.198
th
7 /8 19.301
th
8 /8 19.380

a. In term of short position, what will result in the balance of the margin account after the
8th day be?
b. In term of long position, what will result in the balance of the margin account after the
8th day be?