Each transaction consists of the simultaneous execution of the sale and purchase in cash and eventually, deuros against a currency. . the average cost of the position in the traded security is not affected before settlement; Profits and losses resulting from futures transactions are determined on the settlement date. The date of the sale and future purchase is set at the closing date of each transaction. Inventory financing: positions in which physical stock has been sold for the longer term and financing costs have been frozen until the date of the Term Sale Agreement, in order to sell and buy simultaneously in cash and terminal. . . .