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Callable Zero Coupon Swap

A zero coupon swap (ZCS) in which the zero coupon leg has the right, without the obligation, to call off...

Double No-Touch Option

An option, also known as a range binary option or a double lock-out option, whereby an investor can receive a...

Convertible Bond Asset Swap

An asset swap whose underlying is a convertible bond. In terms of composition, it is a combination of an asset...

Forward-Starting IRS

An interest rate swap (IRS) that involves the future exchange of two series of cash flows. This swap allows hedgers...

Digital No-Touch Option

A digital option that pays out if the underlying doesn’t touch (breach) a specified barrier. Therefore, the option includes a...

Digital Instant One-Touch Option

A one-touch option which pays a preset amount at the point when the underlying touches the barrier, rather than at...

Instant One Touch Option

A barrier option (also a type of binary/ digital options) whose payoff will be paid out at first hitting time:...

Lookback Swap

An interest rate swap in which the holder pays the highest floating rate setting during the reset window and receives...

Sticky Floor

A nonstandard interest rate floor in which the floor rate for each floorlet is equal to the sum of the...

NEO

It stands for non-equity option; an option whose underlying is a security other than stock, such as a commodity, debt...