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English to Spanish translations [PRO] Finance (general)
English term or phrase:settlement index
Amex offers binary options on some ETFs and a few highly liquid equities such as Citigroup and Google.  Amex calls binary options "Fixed Return Options"; calls are named "Finish High" and puts are named "Finish Low". To reduce the threat of market manipulation of single stocks, Amex FROs use a "settlement index" defined as a volume-weighted average of trades on the expiration day. The American Stock Exchange and Donato A. Montanaro submitted a patent application for exchange-listed binary options using a volume-weighted settlement index in 2005.