The Financial Industry Business Ontology (FIBO) defines the sets of things that are of interest in financial business applications and the ways that those things can relate to one another. In this way, FIBO can give meaning to any data (e.g., spreadsheets, relational databases, XML documents) that describe the business of finance.
The definition is "barrier option is not an option until a certain price is met" and should be "barrier option that is not triggered until a certain price threshold is met". The definition of knock-out option also needs minor rephrasing.
The definition is "barrier option is not an option until a certain price is met" and should be "barrier option that is not triggered until a certain price threshold is met". The definition of knock-out option also needs minor rephrasing.