![CR-2025-005034 - [2025] EWHC 2625 (Ch)](https://backend.juristeca.com/files/emisores/logo_O3rEzCI.png){kind=logo}
Brief description of the operation of the Trading Book
Brief description of the operation of the Trading Book
A Trading Book contract is either ‘in the money’, if it has got a positive value against the current market price such that, if closed out at this point in time, the
Firm would have a liability to the customer (the ITM Customers ); or ‘out of the money’, being if it has got a negative value against the current market price such that, if closed out at this point in time, the customer would have a liability to the Firm (the OTM Customers).