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Parisian Option

A barrier option in which the barrier activation/ deactivation (knock in or knock out) is conditional on the underlying price...

Municipal Swap

An interest rate swap in which one counterparty (an investor) exchanges a municipal index yield for a percentage of a...

Capital Valuation Adjustment

It is part of x-value adjustments (XVA). By definition, it captures the impact of regulatory capital (capital costs) on derivative...

KVA

It stands for capital valuation adjustment; it is part of x-value adjustments (XVA). By definition, it captures the impact of...

Municipal Derivative

A type of derivative contract in which the underlying is a municipal financial instrument, municipal index or portfolio, etc. Municipal...

Roll-Over Lock

A swap that mainly hedges roll risk where the roll-lock payer pays the average cost of the roll measured at...

Locally-Capped, Globally-Floored Product

A structured financial product/ security that has a heavily path-dependent payoff consisting of an overall minimum guaranteed return, i.e., a...

Variable Swaption

A swaption in which the underlying swap has a fixed tenor at the trade date. If the option is exercisable...

Locally Capped Product

A structured investment product which combines a guaranteed payoff with a bonus amount equal to the accumulation of capped periodic...

Variable Notional Forward Foreign Exchange Contract

A foreign exchange contract in which the notional is determined by a specific tradable financial price/ asset. For instance, the...