It stands for dollar price dollar forward; a special case of DV01 that represents a change in the price of a fixed-income security (e.g., a bond) that results from a one basis point increase in the forward rate (a parallel shift in the forward rate). DV01 captures the effect of a one-basis movement in interest rates on the value of an instrument or a portfolio. DV01 is defined as:

DV01=−ΔP/ Δr

Where:

Δr is the size of a parallel shift in the interest rate term structure, expressed in basis points, while ΔP is the change in the value of the position in question. In the denominator, the rate is the forward rate for a DPDF.

It is also referred to as a dollar value dollar forward (DVDF)