sell 1 Australian 10 years bond at 94.370
buy 1 Australian 10 years bond at 94.330
variation margin = + 307,35 AUD
and then I got more confused,I read on the SFE contract specs the following:
Is the above + 307,35 AUD correct?Prices are quoted in yield per cent per annum in multiples of 0.005 per cent. For quotation purposes the yield is deducted from an index of 100. The minimum fluctuation of 0.005 per cent equals approximately $40 per contract, varying with the level of interest rates.
O Brother Sluggo, Where Art Thou?