2015-51 - National Association of Insurance Commissioners
... Modification of existing SSAP New Issue or SSAP Description of Issue: Questions have been received regarding the term “notional” for derivative contracts. Although questions have been received regarding all derivatives, issues with the use of the term for futures has specifically been noted. In rese ...
... Modification of existing SSAP New Issue or SSAP Description of Issue: Questions have been received regarding the term “notional” for derivative contracts. Although questions have been received regarding all derivatives, issues with the use of the term for futures has specifically been noted. In rese ...
EMValWells
... Contingent versus Absolute claims: To the extent that there options outstanding on the equity (options granted to managers, conversion options in securities), you have an alternate claim on equity. The best way to deal with these claims is to value the options as options, net the value of the option ...
... Contingent versus Absolute claims: To the extent that there options outstanding on the equity (options granted to managers, conversion options in securities), you have an alternate claim on equity. The best way to deal with these claims is to value the options as options, net the value of the option ...
Valuation of Corporate Loans: A Credit Migration Approach
... Loan agreements can be complex, and these complexities often have an impact on the subsequent value of the loan. Examples of conditions within loan agreements include pricing grids that tie the spread on the loan to various measures of credit quality, such as an agency rating or a set of financial r ...
... Loan agreements can be complex, and these complexities often have an impact on the subsequent value of the loan. Examples of conditions within loan agreements include pricing grids that tie the spread on the loan to various measures of credit quality, such as an agency rating or a set of financial r ...
Principles Underlying Asset Liability Management
... entity. Although the principles herein are intended to cover a broad range of topics and issues, there may be other factors not discussed here, and some of the definitions may be interpreted differently based on the context of a particular industry under the consideration. Whenever possible, the doc ...
... entity. Although the principles herein are intended to cover a broad range of topics and issues, there may be other factors not discussed here, and some of the definitions may be interpreted differently based on the context of a particular industry under the consideration. Whenever possible, the doc ...
V REGULATED INFORMATION BRUSSELS, 16 May 2011
... PATRICK VERELST, Head of Investor Relations SOLVAY S.A. ...
... PATRICK VERELST, Head of Investor Relations SOLVAY S.A. ...
Correlation Between Company`s Returns, Market and Book Value
... environmental, logistical and political circumstances surrounding the company. The growth of recovery and economic prosperity in the economy has a positive effect on the market value of the shares, in addition to what is published in terms of domestic or international political news, and as expected ...
... environmental, logistical and political circumstances surrounding the company. The growth of recovery and economic prosperity in the economy has a positive effect on the market value of the shares, in addition to what is published in terms of domestic or international political news, and as expected ...
An Equilibrium Model of Catastrophe Insurance Futures and Spreads
... by the CBOT on October 18, 1994, that started trading the same year. These contracts— known as area yield options—provide a means for hedging against shortfall in the harvest of particular crops. An advantage of the crop yield contracts is that there is already an OTC derivatives market in this area ...
... by the CBOT on October 18, 1994, that started trading the same year. These contracts— known as area yield options—provide a means for hedging against shortfall in the harvest of particular crops. An advantage of the crop yield contracts is that there is already an OTC derivatives market in this area ...
Valuing intangibles companies
... asset, such as gold. As long as the company possessed the gold and others did not, the laws of supply and demand pertained and the gold retained its high value. In the information age things are quite different. Intangible assets such as information, different from tangible assets, increase in value ...
... asset, such as gold. As long as the company possessed the gold and others did not, the laws of supply and demand pertained and the gold retained its high value. In the information age things are quite different. Intangible assets such as information, different from tangible assets, increase in value ...
Interest Rate Derivatives – Fixed Income Trading Strategies
... market is referred to as an “issue”, and the borrower is called the “issuer”. Bonds can be systematized with respect to their maturity, issuer, terms of interest payment, credit rating and further categories. Fixed income securities feature a fixed coupon, and interest must be paid on the face value ...
... market is referred to as an “issue”, and the borrower is called the “issuer”. Bonds can be systematized with respect to their maturity, issuer, terms of interest payment, credit rating and further categories. Fixed income securities feature a fixed coupon, and interest must be paid on the face value ...
Table of Contents
... You are able to place certain order types (e.g. “stop-loss”, “stop and limit”) which are intended to limit the losses to a certain amount. These order types may not be effective when market conditions make it difficult or impossible to execute such orders. At times, it is also difficult or impossibl ...
... You are able to place certain order types (e.g. “stop-loss”, “stop and limit”) which are intended to limit the losses to a certain amount. These order types may not be effective when market conditions make it difficult or impossible to execute such orders. At times, it is also difficult or impossibl ...
The volatility of banks in the financial crisis
... And how are they related? This leads to the main problem statement: What caused the volatility of banks to increase in a crisis or recession? In order to answer this question, I will firstly show that in fact volatility increases in a financial crisis or a recession and then look at the influences o ...
... And how are they related? This leads to the main problem statement: What caused the volatility of banks to increase in a crisis or recession? In order to answer this question, I will firstly show that in fact volatility increases in a financial crisis or a recession and then look at the influences o ...
the optimal portfolio - Vista Capital Partners
... degrees but has a standard deviation of 30 degrees, the range of expected temperatures widens to between 50 degrees and 110 degrees. If we don’t intend to pack our warm coats, we will prefer Mexico with its more predictable weather. In investing, greater predictability comes from lower volatility. F ...
... degrees but has a standard deviation of 30 degrees, the range of expected temperatures widens to between 50 degrees and 110 degrees. If we don’t intend to pack our warm coats, we will prefer Mexico with its more predictable weather. In investing, greater predictability comes from lower volatility. F ...
Large Cap Research Equity
... This document does not constitute an offer to sell or the solicitation of an offer to purchase shares or other securities. The Portfolio is available exclusively to, and the information provided above is designed for, certain qualified retirement plans and their participants and beneficiaries as des ...
... This document does not constitute an offer to sell or the solicitation of an offer to purchase shares or other securities. The Portfolio is available exclusively to, and the information provided above is designed for, certain qualified retirement plans and their participants and beneficiaries as des ...
Chapter 2 - Motilal Oswal
... An Option is a contract that gives the right, but not an obligation, to buy or sell the underlying on or before a stated date and at a stated price. While buyer of option pays the premium and buys the right, writer/seller of option receives the premium with obligation to sell/ buy the underlying ass ...
... An Option is a contract that gives the right, but not an obligation, to buy or sell the underlying on or before a stated date and at a stated price. While buyer of option pays the premium and buys the right, writer/seller of option receives the premium with obligation to sell/ buy the underlying ass ...
Corporate Finance
... Identification of market risk Primary: directional risks from taking a net long/short position in a given asset class o Interest rate / currency / equity / commodity Secondary: other o Volatility / spread / dividend o Many trading books are managed with the objective of reducing primary risks… ...
... Identification of market risk Primary: directional risks from taking a net long/short position in a given asset class o Interest rate / currency / equity / commodity Secondary: other o Volatility / spread / dividend o Many trading books are managed with the objective of reducing primary risks… ...
Hanke-Guttridge Discounted Cash Flow Methodology
... time and how it acquired those resources through its liabilities and stockholder’s equity. This financial statement is imperative to investors as it enables them to see what the company owns, owes, and the level of investment by shareholders. Assets indicate what a company owns, while Liabilities re ...
... time and how it acquired those resources through its liabilities and stockholder’s equity. This financial statement is imperative to investors as it enables them to see what the company owns, owes, and the level of investment by shareholders. Assets indicate what a company owns, while Liabilities re ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... to the corporate world. Adverse changes in the macroeconomic factors have even threatened the very survival of business world. It is therefore essential to develop a set of new financial instruments known as derivatives in the Indian financial markets, to manage such risk. The basic purpose of these ...
... to the corporate world. Adverse changes in the macroeconomic factors have even threatened the very survival of business world. It is therefore essential to develop a set of new financial instruments known as derivatives in the Indian financial markets, to manage such risk. The basic purpose of these ...
Model uncertainty and its impact on the pricing of derivative
... The notion of coherent risk measure does not distinguish hedgeable and nonhedgeable risks, nor does it differentiate between market risk and model uncertainty. And, although coherent measures of risk are expressed in monetary units, when applied to traded options they may lead to numbers which are no ...
... The notion of coherent risk measure does not distinguish hedgeable and nonhedgeable risks, nor does it differentiate between market risk and model uncertainty. And, although coherent measures of risk are expressed in monetary units, when applied to traded options they may lead to numbers which are no ...
A Common Jump Factor Stochastic Volatility Model
... parameter φ. To circumvent this problem were formulated some alternative specifications of the SV model. In Hwang et al. (2007) is introduced a version of the SV model allowing for the possibility of regime changes controlled by a Markov chain (Markov Switching Model). This formulation allows to spe ...
... parameter φ. To circumvent this problem were formulated some alternative specifications of the SV model. In Hwang et al. (2007) is introduced a version of the SV model allowing for the possibility of regime changes controlled by a Markov chain (Markov Switching Model). This formulation allows to spe ...