Cash settlement

Cash settlement

Mit Barausgleich, auch Cashsettlement genannt, wird die Zahlung von Geld anstelle von Sachwerten oder Wertpapieren verstanden.

Einen Barausgleich gibt es beispielsweise bei Optionsscheinen. Anstelle der Lieferung oder Abgabe der Wertpapiere, auf denen der Optionsschein basiert, erfolgt nur ein Ausgleich zwischen dem am Finanzmarkt festgestellten Wertpapierkurs und dem im Optionsschein festgelegten Ausübungspreis (Strike). Dabei ist das im Optionsschein festgelegte Bezugsverhältnis zu beachten.

Bei nicht am Finanzmarkt gehandelten Gütern erweist sich die Feststellung eines von allen Seiten akzeptierten "Kurses" als nicht objektiv lösbares Bewertungsproblem, weshalb ein Barausgleich gar nicht oder nur durch anschließende Verhandlungen möglich ist.


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