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Cartwheel

A complex options trading strategy which involves taking a long position in a ratio call spread (call backspread) and a...

BMA Interest Rate Swap

A Bond Market Association (BMA) swap is an interest rate swap in which one party pays a fixed interest rate and receives...

Municipal IRS

An interest rate swap in which one party pays a fixed interest rate and receives floating-rate interest payments based on the...

Municipal Interest Rate Swap

An interest rate swap in which one party pays a fixed interest rate and receives floating-rate interest payments based on the...

Hard Delta

In essence, delta is a measure of how long or short the holder of an option position is in terms...

BMA Swap

A Bond Market Association (BMA) swap is an interest rate swap in which one party pays a fixed interest rate and receives...

Repo Haircut

The Initial margin on a repo agreement. It is generally expressed as a percentage of the market price of repo collateral. For example,...

Repo Margin

The amount by which the market value of the security used as collateral exceeds the face value of the loan....

Parent-Subsidiary Relationship

A relationship between a parent company (simply, a parent) and its subsidiary (or subsidiaries) in which the parent controls its...

Alternative Asset Class

An asset class that includes non-traditional types of assets such as real assets, funds, private equity, etc. Alternative asset classes...