Listed Derivatives Listed options
and
futures
are standard forward transactions that are traded on exchanges. For more information, see
Futures
and
Listed Options
.
In principle, the application neither recognizes 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.
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.
For more information, see:
Transaction entry
Determining price gains - close
