The concepts of money-back-guarantee, or product warranty are common practice in the retail world, and the reason for this is clear, it increases buyer’s assurance when buying a product, and allows sellers to maintain a trust relationship with their clients. It’s a classic win-win situation and promotes the engagement of all sides.
We at ORE are bringing this very simple idea into the online trading world. dealCancellation is effectively an embedded short period option derived in real-time from the deals underlying assets, current, future prices and implied volatility. When a trader opts-in dealCancellation he essentially buys a cancellation option for the pre-detriment period giving him the right to revoke the deal at any time during this period. When revoking the deal, the option’s value is proportional to the difference between the original deal open price and the current market price, thus covering losses if any of the original deal.
dealCancellation is an implementation of ORE ECO system. It enables brokers, banks or any financial service providers to offer their clients the option to cancel or revoke their losing trades.
ORE’s ECO is designed to solve the pricing, risk management and technologies of dealCancellation and provides a full solution for this offering.
Please contact us to add dealCancellation to your services.