synthetic future
- (b) a synthetic sold future, that is, a bought put option coupled with a written call option;provided that in either case the two options:
- (i) are bought and written, whether simultaneously or not, on a single eligible derivatives market;
- (ii) relate to the same underlying security or other asset;
- (iii) give the purchasers of the options the same rights of exercise (whether at the same price or not); and
- (iv) will expire together, if not exercised.5