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Margin requirements are often viewed as an effective policy tool to prevent the default risk and maintain market stability. For the Korean futures market, this paper examines whether the margin requirements work normally as a tool to prevent default risk and margin changes have impact on futures trading activity. KOSPI200 stock index futures, USD (U.S. Dollar) futures, and 3-year KTB (Korean Treasury Bond) futures are included in the sample for the period from 2010 to 2015. Using the simulation method assuming the worst situation, we find that the possibility of default occurs once for KOSPI200 futures, twice for 3-year KTB futures, and 7 times for USD futures during the sample period. This result suggests that active margin requirement policy is necessary to prepare for financial market turbulence. In addition, we find that the margin changes do not have a significant impact on the futures trading activity, suggesting that decreases in margins are not effective means to improve liquidity in the Korean futures market

The purpose of this research is to develop a generic framework of a digital twin (DT)-based automated construction progress monitoring through reality capture to extended reality (RC-to-XR).

IDEF0 data modeling method has been designed to establish an integration of reality capturing technologies by using BIM, DTs and XR for automated construction progress monitoring. Structural equation modeling (SEM) method has been used to test the proposed hypotheses and develop the skill model to examine the reliability, validity and contribution of the framework to understand the DRX model's effectiveness if implemented in real practice.

The research findings validate the positive impact and importance of utilizing technology integration in a logical framework such as DRX, which provides trustable, real-time, transparent and digital construction progress monitoring.

DRX system captures accurate, real-time and comprehensive data at construction stage, analyses data and information precisely and quickly, visualizes information and reports in a real scale environment, facilitates information flows and communication, learns from itself, historical data and accessible online data to predict future actions, provides semantic and digitalize construction information with analytical capabilities and optimizes decision-making process.

The research presents a framework of an automated construction progress monitoring system that integrates BIM, various reality capturing technologies, DT and XR technologies (VR, AR and MR), arraying the steps on how these technologies work collaboratively to create, capture, generate, analyze, manage and visualize construction progress data, information and reports.