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Hybrid Security

A combination of a debt instrument and a derivative instrument such as equity option, equity swap, currency forward, currency futures,...

Reverse Cash and Carry

A cash and carry transaction that is reversed. It involves the simultaneous sale of a cash market commodity/ instrument for...

Zebra Swap

A swap agreement made between a municipality (a city or town local council) and a financial intermediary, in which the...

Barrier Warrant

A warrant in which the underlying price/ rate remains above (for a call warrant) or below (for a put warrant)...

LIBOR-In-Advance Swap

An interest rate swap in which the floating rate (LIBOR) is set in advance, rather than in arrears. That is,...

Inverse Floater Swap

An interest rate swap in which the floating-rate coupon increases in value as the underlying floating rate falls. In essence,...

Zero Cash Cylinder Option

A cylinder option that involves the purchase of a FX call option and the selling of a same-currency FX put...

LIBOR-In-Arrears Swap

An interest rate swap in which the floating rate is set in arrears. This means, the floating rate is determined...

Set-Up Coupon Swap

A variant on off-market swap in which the fixed rate increases according to a predetermined schedule over the life of...

Step-Up Cap

A cap structure that limits interest payment increase to a specific amount (called a jump) at each date the underlying...