Variation Margin
Variation margin reflects gains and losses on open positions as market prices move. It helps reduce the build-up of unpaid losses in futures and derivatives markets.
Definition and Infrastructure Context
Variation Margin should be understood in the context of regulated exchange infrastructure, where terminology affects system design, operating rules, market participant workflows and post-trade controls.
ADEX Technology links this definition to relevant exchange technology, clearing, settlement, market infrastructure and operational control pages so institutional readers can understand how the term is used across the infrastructure stack.