VARIATION MARGIN

Additional deposit required from a client when the futures price moves against the position, and paid to a client when the market moves in the client's favour. Under the SFE's rules, brokers must call margins from a client as soon as the client's unrealised loss exceeds 25 per cent of the original deposit.

VOLATILITY % SCAN RANGE

This is the range determined by SFECH as to an extreme movement up or down in relation to the base volatility of the underlying contract.

VOLUME OF TRADING

The number of purchases and sales of futures contracts during a specified period.