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Turbo Swap

An interest rate swap (fixed for floating rate swap) in which the floating rate is calculated by raising the LIBOR...

Credit Spread Swap

A swap in which one counterparty makes a fixed payment to the other counterparty against a floating spread that corresponds...

Hull-White Option Model

A valuation model which is used to price interest rate options using mean reversion to generate a future interest rate....

Ho and Lee Option Model

An interest rate option model (originally appeared in 1986) which uses short rates in pricing interest rate derivatives such as...

Volatility Skew

The empirical relation which exists between implied volatility and strike prices (it could be also observed between implied volatility and...

Option Pricing Model

A mathematical model which is designed and used to figure out the optimal (theoretical) value of an option based on...

HJM Model

A multi-factor valuation model which is designed to price interest rate options (broadly interest rate derivatives) and specific credit derivatives...

Heath-Jarrow-Morton Model

A multi-factor valuation model which is designed to price interest rate options (broadly interest rate derivatives) and specific credit derivatives...

Volatility Smile

A u-shaped pattern, resembling a smile, which is formed by plotting options’ implied volatilities against exercise prices. In general, implied...

Inflation-Linked Swap

An inflation-linked derivative where the inflation rate is either paid on an annual basis or with a single amount at...