Опцион как договор, являющийся производным финансовым инструментом

Вестник Воронежского государственного университета. Серия: Право. 2023. № 4(55). С. 140–151.

Klementiev A.

Amended version of Russian Civil Code sets out option contract and option on contract as two models of options under Russian law. In contrast to options in corporate law, options on financial markets lack attention from domestic researchers. Based on standard forms of derivative options the author comes to conclusion that the current view of options adopted in legislation and doctrine does not match contractual practice prevailing in contemporary financial markets. In particular, due to automatic performance of options the potestative right of the option buyer extinguishes, and the legal consequences of an option transaction depend exclusively on the prices of securities, currencies and commodities available on the market. This conclusion requires the reconsideration of the current approach to options in the form in the form of derivative transactions. As the legal result of deliverable and cash-settled option transactions depends on the future event, which is unsure, whether it occurs or not option transactions may be qualified as aleatory contracts

Keywords: опцион, производный финансовый инструмент, derivative, дериватив, derivative financial instruments, framework agreement, рамочное соглашение, option, aleatory transaction, алеаторная сделка