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Diversification Swap

A bond swap that aims to diversify a portfolio by bond type, sector, or geographic region (country-wise, region-wise, etc.). For...

Yield Pick-Up Swap

A bond swap that involves swapping a relatively high-price bond with a relatively low-price bond (otherwise, the two bonds are...

Concertina Swap

An interest rate swap in general and a type of a seasonal swap in particular, in which the tenor can...

Timing Adjustment

An adjustment that is made to the forward value of a variable to account for the timing of a payoff...

Two-Index Equity Swap

An equity index swap in which the equity return is linked to the greater of two stock indexes. For example,...

Par Spread

A spread that is usually paid (when necessary) by the seller of an asset swap, in addition to a floating...

Callable Par Asset Swap

A par asset swap whose underlying asset (e.g. a convertible bond) is repackaged with an equity warrant stripped therefrom, with...

Bermudan Callable Swap

A callable swap in which the seller has the right, but is not obliged, to cancel the agreement on more...

Spark Spread Swap

An energy swap that involves the payment of the spark spread from one counterparty to another, depending on the change...

Differential Swaption

A cross-currency derivative which constitutes an option giving the holder the right, without the obligation, to enter into a cross-currency...