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Unmargined Spread

An option spread in which the short option leg is margined separately as a naked option. Investors choose this setting…

Undated Forward

A forward contract that grants the seller the option to defer delivery to a specific date in the future rather…

Unmatched Swap

An interest rate swap or cross-currency swap which is not matched by an offsetting/ mirror swap or other financial asset…

Underwater Option

Alternative term for an out of the money option. Always from buyer’s perspective, it is an option whose underlying’s market…

UDI Swap

An interest rate swap in which one leg is a fixed rate referenced to the UDI index (or the Unidades…

Uncovered Warrant

An option (warrant) that is issued alone, i.e., without an accompanying bond (i.e., the host bond), and one that has...

Uncapped Option

An option that has unlimited liability in comparison with a capped option. An uncapped option has no cap or restriction...

Unwind Trigger

A set of conditions that, if and when met, will trigger liquidation of the underlying asset of a swap and...

Up-and-In Put

An up-and-in option that becomes effective, i.e., is activated, if the price of the underlying exceeds a preset level. The...

Unwind Tranche

For large unwinds (e.g. $100 million or more), a swap transaction can be sliced up into several pieces (tranches) either...