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Ratchet-Collared Floater

A collared floater in which the caplet/ floorlet strikes increase at particular intervals/ increments (and hence the ratchet feature). The...

Sovereign Credit Default Swap

A credit default swap (CDS) that constitutes insurance contracts offering protection against the default of a sovereign government or authority...

Sovereign Quanto CDS Spread

The premium differential (CDS premium) between credit default swaps (CDS) that have the same sovereign debt  but differ in term...

Cash Market Premium

The price of credit risk as traded in the cash market using asset swaps. In other words, it is the...

Prepaid Forward

A forward contract that calls for payment today and delivery of the underlying asset or commodity at a future date....

Ratchet Swap

A interest rate swap (fixed rate for floating rate or fixed-for-floating swap) whereby the fixed rate leg can be modified...

Ratchet Floater

A structured note (FRN) that pays a floating interest rate referenced to a popular market rate such as LIBOR. Each...

CTFF

It stands for cash-to-first futures; a short cash rate that is observed from current day to the maturity date of...

Cash-To-First Futures

A short cash rate that is observed from current day to the maturity date of the first (nearest) futures contracts....

Prepaid Interest Rate Swap

An interest rate swap in which one party is under obligation to make periodic payments to another party based on...