I am trying to find out what is an 'option on a basket of equities Asian-in Asian-out'? I understand basket options and Asian options, but I am unfamiliar with the term Asian-in Asian-out. Anyone care to explain? Could this relate to combining knockout/knockin options with Asian options? Thanks!

A Border Agent should be able to explain it clearly.

Sorry I'm new here, not sure what you mean by 'Border Agent'?