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A Fution is a type of financial instrument (specifically a Listed Derivative product). These options on futures are classified as having a margining feature instead of a premium feature which is most common in option products. This margin is recorded and mark-to-market daily with cash only moving at the close-out of the position (as opposed to paying an upfront premium when incepting the position). Some Listed Exchanges that utilize this special margining feature on select financial instruments are the Hong Kong Exchanges and Clearing, Eurex, Euronext Liffe, and Sydney Futures Exchange.

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