Series 3: 4.1.8.2.1. Portfolio Margining

4.1.8.2.1. Portfolio Margining

But the principal object of SPAN is not to calculate the margin for individual derivative products, but for the portfolio of positions held by each of its clearing member accounts. It adds the scanning risk for each commodity and applies the intermarket spread charge to each long and short position to derive the risk of that commodity. Then it adds the risks of all commodity positions in the portfolio and subtracts the in