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In both currency futures and interest rate futures sections, there is a ‘quicker’ method to calculate the effective futures rate:
Opening futures price – closing basis = effective futures rate (1)
In bpp practice and revision kit, the formula (1) is widely used in most problems in relation with currency futures, but this formula is not used in problems in relation with interest rate futures
Therefore, I want to ask if I use the formula (1) in AFM exam, can i get full marks?
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