An illiquid market is one in which assets cannot easily be converted into cash.
An IMM swap is a swap where the end dates of the underlying swaps follow the cycle of IMM (International Monetary Market) futures and options.
An improver option is a vanilla option with an additional three knock in barriers.
An in-arrears payment refers to one of the available methods of fixing the floating rate to be used in each of a swap's payment period.
The barrier at which an option will knock in.
An index is a compilation of a number of stock prices into a single number...
An inflation swap is an interest rate swap whereby the floating leg of the swap is set by reference to an inflation index rather than by reference to a short-term reference rate.
Interest rates are defined as the cost of borrowing money, usually expressed as an annual percentage rate.
An interest rate guarantee (IRG) is essentially a 1-period cap, that is, a cap with a single caplet.
A interest rate swap is an exchange of payment streams (usually in cash) between two counterparties on an agreed amount of debt (the notional) for a fixed time period.
An option is said to be in-the-money when it has intrinsic value.
An option's intrinsic value is calculated as the difference between the strike price and the underlying.
An inverse floater swap is similar to a vanilla swap in that one of the legs can be based on either a fixed or a floating reference rate.
International Securities Exchange...