Hello,
I was just comparing Default fund contribution Waterfall losses chart from the video with the GARP textbook. The sequence in both is different.
Based the book - the funds are used in the following order:
Initial margin provided by the member,
Default fund contribution of the member...
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.