London option

London option

A generic term sometimes used to describe options on physical commodities or on futures contracts traded abroad (typified by options on London commodity markets). These options, which often had nothing whatsoever to do with legitimate foreign markets, gained notoriety--prior to their ban in the United States in 1978--because of the sales practises and fraud allegations associated with the American dealers who sold them.

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Part of Speech: noun
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Industry/Domain: Financial services
Category: Commodity exchange
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