financial systems and methods for trading fixed return options on secondary markets such as stock exchanges including an electronic order delivery and execution system and / or an on - floor trading auction , configured to provide an exchange - traded environment . also included is at least one fixed return option or binary option traded through an exchange &# 39 ; s order delivery and execution system or on - floor trading auction , whereby such trading environment provides an open market . also included are methods for calculating the closing settlement value for securities underlying fixed return options or binary options in order to maintain a fair and orderly trading environment for these instruments on an organized exchange .