9.3.5 Automatic Expiry of Out/At the Money Positions

The Automatic Expiry of Out of the Money / At the Money positions will identify all out of/at the money instruments on the Expiry Date and fire an automatic expiry for the portfolio.

The Instrument and Series, which is being traded, will be marked as expired and will not be available for future trading.

For long positions in your bank’s own portfolios, the acquisition premium (paid / to be paid – depending on the Premium Style) will be expensed out. For short positions within your bank’s own portfolios, the received / to be received premium will be credited as income.

For your customer portfolios, the basket is marked as ‘Expired’. In case of Options with Future style of Premium, the money settlement of the premium will be done during the Expiry event.