This bet pays if the market touches (at least once each !) two pre-determined trigger barriers (one downside barrier and one upside barrier). You believe that the market will touch two pre-determined barrier levels (high and low) before or on the date the bet expires. In other words, when you buy a barrier range you will win only if the market touches both of the two barrier levels you have chosen.
Example: [Pays 100 if the FTSE touches both X and Y between today and date T]
Double Touch Bet You believe that the market will touch two pre-determined barrier levels (high and low) before or on the date the bet expires. In other words, when you buy a barrier range you will win only if the market touches both of the two barrier levels you have chosen.
Suppose its Tuesday June 24th 2003, and the USD/JPY is presently quoted at 117.924 and you anticipate that the USD/JPY will fluctuate.
You log onto your account; click on «Barrier Range» on the lower middle left hand side of the screen and select «US Stocks» as the market to display from the middle left hand side drop-down menu. (Under «Markets»). After inputting these parameters in our dealing system it returns this message:
The USD/JPY is currently quoted at 119. You have a hunch that the USD/JPY is about to slip down to a level lower than 118.5 in the very near future. So you price this bet: I wish to win «USD» «1000» if in «10» days time, the «USD/JPY» is lower than 118.5. After inputting the required parameters and «calculating» the cost of the bet, our pricing engine returns you a price of USD460. You are satisfied with these pricing terms and click on «Buy Bet». If, on the expiry date, the USD/JPY closes lower than 118.5 you will win the bet and receive a total payout of USD1000. If your prediction proves wrong and the USD/JPY rallies (ie rises) to 120 instead of dropping on the expiry date, then you will lose your initial investment of USD460. Again, similarly as in the case of a bull bet if the USD/JPY falls to 117 within 7 days of buying the bet but is quoted at 119.5 on the closing day of the expiry date then you will still lose your bet.
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