EFTA Document EFTA01353457

both sides of a combination transaction, and the in- creased risk exposure that would result from the exer- cise or closing out of one side of the trade while the other side of the trade remains outstanding. Also, the transaction costs of combination transactions can be especially significant. since separate costs are in- curred on each component of the combination. This can have the effect of requiring a substantial favorable price movement in the underlying interest before a profit can b