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Airbag Certificate

A structured product (structured certificate) that allows the holder to participate in the upside performance of an underlying stock while...

Repo Haircut

The Initial margin on a repo agreement. It is generally expressed as a percentage of the market price of repo collateral. For example,...

Repo Margin

The amount by which the market value of the security used as collateral exceeds the face value of the loan....

Implied Repo Rate

The rate which results from a cash/futures arbitrage. More specifically, it is the rate of return that an investor can...

Orderly Transaction

A transaction that assumes there will be adequate market exposure that would allow market participants to gain sufficient knowledge about...

Invoice Price

The stated price (flat price) of a bond in a quote sheet plus accrued interest. In other words, it represents the present value...

Conditional Put Option

An option (here a put option) that gives a issue the right, but not the obligation, to put a bond...

Conditional Put

An option (here a put) that gives a issue the right, but not the obligation, to put a bond (puttable...

Conditional Call

An option (here a call) that allows the holder of a callable bond (which is also a convertible bond) to...

Conditional Call Option

An option (here a call option) that allows the holder of a callable bond (which is also a convertible bond)...