Rogue Trader

# ''Money'' continues
They were a good bunch
and they were keen to learn.

lt looked like a madhouse with
all the traders waving and shouting,...

..but it all made sense
once you got the hang of it.

There were hiccups,
but that's normal in any operation,...

..especially a new one like ours.
The important thing was
we were picking up the business...

..and the future looked rosy.
Nick, what's the difference between
initial margin and variation margin?

lnitial margin's a down payment
on each futures contract that we trade.

We don't pay in full
until a contract matures.

But in the meantime the value of
each contract may go up or down.

So SlMEX calculate our positions
on a daily basis.

They'll ask for more money if the market
goes against us. That's variation margin.

Got it. l think!
We need to open an errors account.
We've had a few mistakes.

l need somewhere to put them
till l can write them out.

Sure. What number shall l give it?
- Well, what's your lucky number?
- Eight. lt is a very lucky Chinese number.

And how many numbers do we need?
Then let's give it all the luck it can handle.
Call it the 88888 account.

And now it gives me great pleasure to
welcome the chairman of Barings Bank,...

..Peter Baring.