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Par Spread

A spread that is usually paid (when necessary) by the seller of an asset swap, in addition to a floating...

Perpetual Floater

A floater that that has no redemption date (maturity date), i.e., whose principal never matures. The note only has perpetual...

Premium

In the realm of options, it refers to the amount of money an option buyer pays to an option writer...

Passport Option

A call option on any portfolio composed of variable or uncertain components, such as an actively managed portfolio or the...

PNL Option

An option that allows its holder to lock in the profit of optimal trading on a specified asset subject to...

Path-Dependent Option with Weak Memory

A path-dependent option whose payoff, at the time of exercise or expiration, does not depend much on the price events...

Partial Fill Plus Option

A type of commodity derivative that constitutes a swap agreement entailing the exchange of an off-market high fixed rate for...

Partial Lookback Option

A lookback option that comes with a time window (e.g., 1- 3 months), known as the partial lookback period, allowing...

Path-Dependent Derivative

A derivative instrument whose final payoff is determined based on the path taken by its underlying asset over its life,...

Path-Dependent Option with Strong Memory

A path-dependent option whose payoff depends solely on the route taken during a specified period of time. Examples of this...