A combination of an Asian option with a forward start option. This option becomes active at a future date from which on the payoff is determined in view of the average underlying price over the life of the option. By combining the two features (averaging the underlying price and postponing the starting date to the future), this option allows investors to eliminate losses from the future movements in the underlying without having to re-hedge on a continuous basis. Averaging starts from the prespecified date after the first trading date. Therefore, this option provides a more flexible way for selecting the desired average time window for the underlying price.

This option is the opposite of a backward starting Asian option.