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The futures and forwards are more or less similar as in both these cases; the investor locks the future price of the asset. However, in the case of forwards, counterparty risk exists that is not present in the futures market as the clearing house guarantees the completion and execution of the contract. Options on the other hand provide the buyer with the right to honor the contract and are not obligatory like futures and options. For this right, options require the payment of an option premium at start while the forwards and futures do not require any cash outflow. They have zero value at start. Swaps are more popular in the fixed income securities market wherein the fixed rate payers and receivers can swap their interest payments for variable rates and vice-versa. All the derivative contracts serve to minimize the variability of the returns of the portfolio and the investor can select from the contracts on the basis of their return and risk objectives.

 

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期货和远期或多或少是相似的在这两种情况下;投资者锁定的资产未来价格。然而,在的情况下,远期交易对手风险的存在,不在期货市场目前的结算保证完成和执行本合同。另一方面,期权买方提供履行合同的权利和义务都不如期货和期权。为此,需要同时远期和期货不需要任何现金流出开始期权费的支付。他们在开始有零价值。互换是比较流行的固定收益证券市场所述固定利率的纳税人,接收器可以交换他们的利息支付浮动利率,反之亦然。所有衍生合同来降低投资组合的收益的变化,投资者可以从合同中选择对他们的回报和风险目标的基础上。

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