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1

.

.

.

.

50 . 75

50%.

%50 = =

25 25

100%

%100 = =

25 .

50-75

50

25 - 25 -75

25

7/27/2019 Marging Trading Ar

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2

50 100% 25

.

50% Initial Margin( )

Maintenance Level( ( . 25%

Initial Margin(. (

: 1992 95

100% )1.

. 100% )2

. 90% )3

%70 )4.

.

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3

:

16,000 . 8,000 8,000

12,000 ( 8,000-12,000=4,000 (

.

40%

%40

4,800

4,000 12,000

Margin Call( ( 800

.

/

)Margin Call ( )Maintenance Level(

.

.

. - 1 - 2

. / - 3 /

.

- 4

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4

.

. -

-

. -

.

-

.

) (

.

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