What happens to the shares at the expiration of the forward contract on 9/30? Is the trading activity between LAT customers now, or is it just the company doing the trading?
Either at the day expiration or before that a client may choose to trade out of his position by simply selling it or by waiting till the end of the expiration day and receive respective amount of LAT in return for expired contract. The expiration price will be calculated as a close price of real world asset (Apple share on respective exchange for example) for that trading day divided by the average rate of LAT/EUR over 24 hours (if we will be able to list LAT on exchange before the end of September), or by an average rate of ETH/EUR over 24 hours times the fixed price of LAT/ETH depending on ICO round). The company runs market making operations currently, thus the bids are available 24/7. A client is free to choose either to hold his tokenized shares till last day of trading or trade off his position before that.
Currently a small number of early adopters test the waters and in parallel we build market-making facilities in house. But as the process and transparency develop we expect more people to express their opinions with regards to forwards on what stocks they want to trade on our platform and consequently tokenize those real world assets for trading.
