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Method and apparatus for executing a win, lose or draw derivative contract
Method and apparatus for executing a win, lose or draw derivative contract
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机译：用于执行赢，输或开衍生合约的方法和设备
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摘要
Methods and systems are disclosed for executing a fixed-payoff derivative contract between two parties that provide the opportunity to speculate on the movement of single-stock equities, equity indexes, bonds, commodities and currencies in a manner that eliminates the cost of an option premium. The invention, henceforth referred to as a “Win, Lose or Draw” derivative contract, is a cash position for or against the occurrence of a designated price event above an underlying financial instrument's spot price before a designated price event below an underlying financial instrument's spot price, or vice versa, within a designated time period. If neither designated price event occurs within the designated time period, no loss of cash position is incurred by either party. Additional embodiments include the application of asset-backed contracts, transferable positions, multiple underlying financial instruments within the same contract, and expirationless time periods.
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