Use

Listed options and futures are standard forward transactions that are traded on exchanges. For more information, see Futures and Listed Options.

Prerequisites

In principle, the application recognizes neither a particular exchange nor an actual finance product. These exchanges and finance products are only introduced to the system when you make the Customizing settings.

Activities

The terms Purchase and Sale do not describe the increase or decrease of positions for these transactions. Instead, they define the side of the forward transaction. Positions are generated both by the purchase and the sale.

This increase and decrease of positions is represented by open and close.

The position is reduced if there is a counter transaction - offsetting transaction (closing) - with the same class and same ID. One of the two main features of an offsetting transaction is that you can leave the market at any time without needing the consent of the counterparty. This distinguishes listed options and futures in particular from options and forward transactions in the OTC area. The second characteristic is the strict standardization of the contract contents.