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Default Leg

In relation to a default swap (a credit default swap/ CDS), it is one of the two legs of the...

NTD Swap

It stands for nth-to-default swap; a credit default swap (CDS) whereby the protection buyer makes a payment to the protection...

Binary Credit Default Swap

Unlike standard credit default swaps (CDS) which require a valuation following a credit event (usually default), binary swaps simply specify...

CDIS

It stands for credit default index swap; a fixed set of equally weighted credit default swaps with standard maturities ranging...

Constant Maturity Credit Default Swap

A credit default swap that provides hedge against default losses and which has a floating premium that resets on periodical...

Zero Recovery Credit Default Swap

A credit default swap (CDS) that automatically terminates with one counterparty of which having to make no further payments if...

Credit Default Index Swap

A fixed set of equally weighted credit default swaps with standard maturities ranging between 5 to 10 years. The credit...

Short Credit Default Swap

Selling a credit default swap (CDS); a short position in a credit default swap (CDS). It is equivalent to longing...

First-Loss CDS

A credit default swap (CDS) that protects its buyer (the long) from losses of a reference asset/ reference entity or...

First-Loss Credit Default Swap

A credit default swap (CDS) that protects its buyer (the long) from losses of a reference asset/ reference entity or...