You Have Written a EUR/USD Knock-In Option for a Bank

question 463

Multiple Choice

You have written a EUR/USD knock-in option for a bank counterparty. At 6pm New York time on Friday, the instrike point is breached. This is confirmed on screens. The counterparty contacts you to confirm that the option has been knocked in.

• A) The deal is done. You should confirm with your counterparts.
• B) If the knock-in is confirmed by a New York price source, the deal is done and you should confirm with your counterparty.
• C) The recognised closing time for the currency markets is 6:00pm New York time in Friday, so the deal is done and you should confirm with your counterparty.
• D) The recognised closing time for the currency markets is 5:00pm NewYork time in Friday, so no deal is done.

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Definitions:

Net Income

The amount of money a company retains as profit after removing expenses and taxes from its revenue.

Sales Growth

The increase in sales over a specific period, indicating the health and scalability of a business.

Costs Percentage

The proportion of costs (operational, production, etc.) relative to some base measure, such as sales.

Fixed Assets

Long-term tangible property or equipment that a company owns and uses in its operations to generate income.