Finance
ITM Warrant
November 7, 2021
Derivatives
Step-Up Warrant
November 7, 2021

A credit default swap (CDS) which links the notional amount, on which the swap payoff is based, to the daily settled value of a portfolio of swaps. The daily settlement is typically made through marking the value of the portfolio to market so the other party’s risk is eliminated. In simple terms, the notional payoff of the swap is referenced to an dynamic (MTM) value of a swap portfolio.

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