Page 138 - PRIAA Glossary

RATCHET OPTION
See Cliquet option.
RATIO SPREAD
An option strategy in which a long position in a certain number of options is offset by a short position in a certain number of other options on the same underlying.
RAW NATURAL GAS
Natural gas directly from the wellhead that has not been processed.
RECOGNISED CLEARING HOUSE (RCH)
A clearing house, which has been recognised by the Financial Services Authority (FSA) and allowed to operate in the
UK. Recognition is granted by the FSA to those clearing houses which meet its requirements under the terms of the Financial Services and Markets Act 2000.
RECOGNISED INVESTMENT EXCHANGE (RIE)
An exchange authorised by the Securities and Investments Board (UK) to act as a marketplace for buying and selling financial instruments under the terms of the Financial Services Act.
RECOGNISED OVERSEAS CLEARING HOUSE (ROCH)
A clearing house which does not have a head office or registered office in the UK, but has the necessary recognition from the Financial Services Authority to enable it to provide clearing and settlement services in the UK.
RECOGNISED OVERSEAS INVESTMENT EXCHANGE (ROIE)
An investment exchange, which does not have a head office or registered office in the UK, but has been recognised by the Financial Services Authority and allowed to operate in the UK. Recognition is granted by the FSA to those investment exchanges that meet its requirements under the terms of the Financial Services and Markets Act 2000.
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