The daily price at which all trades are cleared and all accounts between clearing accounts are settled by a clearing…

It stands for tranched portfolio default swap; a variation of collateralized debt obligations (CDOs) in which the exposure to the…

A set of principles whereby rules of Islamic jurisprudence (fiqh) are derived from specific evidences in the main shari’a sources…

A waqf of the usufruct (manfa’ah– manafi’) of a rented property. It is a temporary waqf (waqf muaqqat) which only…

A lattice-based model which is used to value options. It extends the structure of the binomial tree, while applying the…

Interest (usury or riba) that is earned on lending money to another party (or interest that is paid on borrowing…

A fixed-income derivative which represents a physically-settled futures contract linked to a pool of Treasury bonds with remaining maturities of…

The third Friday in the months of March, June, September, and December when U.S stock options, index options, and futures…

An option pricing model which is similar to a binomial model, but with three possible branches at each node instead…

The last hour before the market closing in which options and futures on stock indexes expire on the same day.…