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Hi all, 2 quick questions w.r.t CF's. 1.) I want to hedge $ for my Dec trip (classic example here :-)) but I'd like to get the forex by early Dec instead of the standard futures close out times. Is this allowed? 2.) MTM calcs. These are done daily which means due to R/$ volatility on a daily basis,I'd have to be prepared to top-up for negative variable margin. Is this correct? Thanks!
you don't actually get the forex, the CF is rand settled on a daily basis. So any move would earn/loose you the move between now and then. Selling can be done whenever. And yes, MTM is daily, so you may need to top up margin if it goes against you.