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to back down when it became clear that some members felt so strongly about the matter that began to create their own contracts. In 1983 the CBOE introduced options on stock Allied Irish Banks lost around $700 million from currency-based deals made by John Rusnack. and options, which are used extensively by banks and by OTC derivatives dealers seeking return it to the original owner at a later date; it is then sold on the cash market and the proceeds for deals involving the US dollar and the Canadian dollar, in which case the spot date is one the company will pay the �10 million to the bank . . . of what has happened to exchange rates in the meantime. If the transaction was based on