最後結算程序.pdf

The final settlement process for USD/CNH options involves several steps, including calculating variation adjustment (VA) loss or gain, delivery profit or loss, and margin requirements. For a call option that is exercised, the holder's profit is calculated as the difference between the official settlement price and the strike price, multiplied by the contract size. The Clearing House collects any losses and releases profits to the participant's bank account. For a put option that is exercised, the process is similar, but the profit is calculated as the difference between the strike price and the official settlement price. The final settlement value is calculated based on the margin requirement, VA gain or loss, and delivery profit or loss. The Clearing House releases the final settlement value to the participant's bank account after receiving a withdrawal request.