An organization established by the major London futures exchanges to provide regulatory supervision for futures brokers and dealers. The Association of Futures Brokers and Dealers (AFBD) was a self-regulating organization when it was founded in 1984. It has since been incorporated into the Financial Services Authority. The Association of Futures Brokers and Dealers was formed to be a self-regulatory organization to oversee futures broker and dealer activity. The association developed and maintained standards to which British brokers and dealers on futures exchanges were expected to adhere. In 1991, the Association of Futures Brokers and Dealers merged with The Securities Association (TSA) to form the United Kingdom’s Securities and Futures Authority (SFA), which sets the rules of fair practice as well as capital requirements for firms active in the securities, futures and options markets. Association Of Futures Brokers And Dealers - AFBD An organization established by the major London futures exchanges to provide regulatory supervision for futures brokers and dealers. The Association of Futures Brokers and Dealers (AFBD) was a self-regulating organization when it was founded in 1984. It has since been incorporated into the Financial Services Authority. The Association of Futures Brokers and Dealers was formed to be a self-regulatory organization to oversee futures broker and dealer activity. The association developed and maintained standards to which British brokers and dealers on futures exchanges were expected to adhere. In 1991, the Association of Futures Brokers and Dealers merged with The Securities Association (TSA) to form the United Kingdom’s Securities and Futures Authority (SFA), which sets the rules of fair practice as well as capital requirements for firms active in the securities, futures and options markets.
The act of clearing houses and brokerages selecting short option and future contract holders to deliver underlying securities or commodities of maturing or exercised/tendered contracts. Not all contracts will typically be exercised or tendered; those that are need to be settled with delivery of the underlying security/commodity. Most often, clearing houses will randomly allocate assigned contracts to brokerages that, in turn, randomly select which of their clients will be assigned. Assign The act of clearing houses and brokerages selecting short option and future contract holders to deliver underlying securities or commodities of maturing or exercised/tendered contracts. Not all contracts will typically be exercised or tendered; those that are need to be settled with delivery of the underlying security/commodity. Most often, clearing houses will randomly allocate assigned contracts to brokerages that, in turn, randomly select which of their clients will be assigned.
1. The transfer of an individual's rights or property to another person or business. 2. A notice received by an option writer stating that the option sold has been exercised by the purchaser of the option. 1. Essentially, an assignment is the transfer of ownership. An example of an assignment is when a person sells his or her car, thereby transferring the title to another.2. When assigned, the option writer has an obligation to complete the requirements of the option contract. If the option was a call (put) option, then the writer would have to sell (buy) the underlying security at the stated strike price. Assignment 1. The transfer of an individual's rights or property to another person or business. 2. A notice received by an option writer stating that the option sold has been exercised by the purchaser of the option. 1. Essentially, an assignment is the transfer of ownership. An example of an assignment is when a person sells his or her car, thereby transferring the title to another.2. When assigned, the option writer has an obligation to complete the requirements of the option contract. If the option was a call (put) option, then the writer would have to sell (buy) the underlying security at the stated strike price.
A futures contract with a provision permitting the contract holder to convey his or her rights of assignment to a third party. This enables the contract holder to assign the rights and obligations of a contract to another to perform and receive the benefits of that contract before it closes. For example, if an investor holds a futures contract and the holder finds that the security has appreciated by 1% at or before the contract is closed, then the contract holder may decide to assign the contract to a third party for the appreciated amount, thus making a profit on the contract before it even closes.Not all futures contacts have this provision. In fact, most exchange traded contracts are not assignable. Assignable Contract A futures contract with a provision permitting the contract holder to convey his or her rights of assignment to a third party. This enables the contract holder to assign the rights and obligations of a contract to another to perform and receive the benefits of that contract before it closes. For example, if an investor holds a futures contract and the holder finds that the security has appreciated by 1% at or before the contract is closed, then the contract holder may decide to assign the contract to a third party for the appreciated amount, thus making a profit on the contract before it even closes.Not all futures contacts have this provision. In fact, most exchange traded contracts are not assignable.
An option payoff that is equal to the asset's price if the asset is below the strike price, otherwise the payoff is zero. Watch: Put Option These types of options don't function like regular (plain vanilla) options that pay the difference between the exercise (strike) price and market price at expiry. Asset-or-Nothing Put Option An option payoff that is equal to the asset's price if the asset is below the strike price, otherwise the payoff is zero. Watch: Put Option These types of options don't function like regular (plain vanilla) options that pay the difference between the exercise (strike) price and market price at expiry.
An option payoff that is equal to the asset's price if the asset is above the strike price, otherwise the payoff is zero. These types of options don't function like regular (plain vanilla) options that pay the difference between the exercise (strike) price and market price at expiry. Asset-or-Nothing Call Option An option payoff that is equal to the asset's price if the asset is above the strike price, otherwise the payoff is zero. These types of options don't function like regular (plain vanilla) options that pay the difference between the exercise (strike) price and market price at expiry.
A procedure implemented to protect an option holder where the Option Clearing Corporation will automatically exercise an "in the money" option for the holder. Think of it as an insurance policy for those who aren't as tuned in with the 3rd Friday of every month.
A type of option whose underlying asset is a basket of commodities, securities, or currencies. A currency basket option provides a cheaper method for multinational corporations to receive/sell a basket of several currencies for one specified currency. An example would be MacDonald's buying a basket option involving Indian rupees and British pounds in exchange for U.S. dollars.
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