The month in which a futures contract begins to trade on the cash market. futures traders who fail to offset their long or short positions prior to the expiration date face the prospect of having to take or make a delivery of the commodity or financial instrument. The month in which an option contract will expire worthless if the Option Holder fails to exercise the option to buy or sell the underlying asset. See default.
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speculative position limits
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Swiss Exchange (SWX)
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