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In finance, a foreign exchange option (commonly shortened to just FX option or currency option) is a derivative financial instrument that gives the right but not the obligation to exchange money denominated in one currency into another currency at a pre-agreed exchange rate on a specified date. [1] See Foreign exchange derivative. [2]
The PHLX has more than 16% of United States market share in exchange-listed stock and ETF options trading. In March 2020, the PHLX announced plans to temporarily move to all-electronic trading on March 23, 2020, due to the COVID-19 pandemic. Along with the NYSE and the BSE, the PHLX reopened on May 26, 2020.
It is the oldest stock exchange in the United States. The NASDAQ OMX PHLX allows trading of options on equities, indexes, ETFs, and foreign currencies. It is one of the few exchanges designated for trading currency options in the U.S. In 2008, NASDAQ acquired the Philadelphia Stock Exchange and renamed it NASDAQ OMX PHLX.
Options grant the right to buy or sell currencies at a predetermined rate, allowing companies to soften the impact of currency moves by locking in a worst-case exchange rate. They can still ...
ICE Futures Europe (owned by Intercontinental Exchange), formerly London International Financial Futures and Options Exchange (LIFFE) and International Petroleum Exchange (IPE) London Metal Exchange (LME, owned by Hong Kong Exchanges and Clearing )
Hedging is a way for a company to minimize or eliminate foreign exchange risk. Two common hedges are forward contracts and options. A forward contract will lock in an exchange rate today at which the currency transaction will occur at the future date. [2] An option sets an exchange rate at which the company may choose to exchange currencies.