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One-Way Arbitrage

A type of arbitrage (inter-market price differential) that involves only one side of the arbitrage transaction. For example, a trader...

Owner Arbitrage

A type of one-way arbitrage which capitalizes on violations to the law of one price (LOP) for lending rate (bid)....

Refinance Position

A new position that involves revisiting/ revising the terms of an existing finance (e.g., a loan, credit facility, a mortgage...

Long Bond

A bond with a long period remaining until maturity date. Bonds with more than two years to maturity are often...

Dilution Factor

Dilution is the extent to which shareholder value erodes due to transfer of value created by their share holdings to...

Long Coupon

An interest payment (coupon) that covers a longer period than the other coupons on a bond. For example, in a...

Long Turbo Certificate

A turbo certificate that aims to bet on price increases. The participation in the upward movement of the underlying will...

Quasi Arbitrage

A type of arbitrage (inter-market price differential) that involves only one side of the arbitrage transaction. For example, a trader...

Accrual Range FRN

A floating rate note (floater or FRN) that pays a coupon whose amount depends on the times a floating rate...

Par Rate

The coupon rate at which the price of a bond (or a note, etc.) is made to equal its nominal...