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Target Redemption Forward

A Target Redemption Forward, or Target Redemption Note is a structured option contract comprising a set of forwards that allows the purchaser to lock in a more favourable exchange rate than that of an outright forward contract, when the spot price trades above a certain level (the strike price) on expiry. More info FX Forwards […]

Target redemption forward (TARF)

Un “Target Redemption Forward” o una “Target redemption Note” son productos financieros estructurados que engloban una serie de contratos a plazo. Estos productos ofrecen al comprador un tipo de cambio a plazo más conveniente que con el seguro de cambio estándar, a condición de que el precio spot se encuentre por encima de un determinado […]

Tasso medio di mercato

Il tasso medio di mercato è il valore intermedio tra il prezzo di acquisto e quello di vendita delle due valute ad un determinato tasso di cambio, ossia quello al quale il compratore è disposto a effettuare il pagamento e quello per cui il venditore è pronto a vendere. Anche noto come tasso interbancario, se […]

Taux mid-market

Le taux mid-market, également appelé taux interbancaire, est le point médian entre le taux de change d’achat et le taux de change de vente de deux devises, c’est-à-dire ce que l’acheteur est disposé à payer et ce que le vendeur est disposé à vendre. Un taux mid-market véritablement appliqué est considéré comme le taux le […]

Trade repository

Trade repositories are approved entities that centrally manage and maintain all reported over-the-conter derivative transactions. All counterparties, including financial and non-financial organisations must report all derivative contracts to a trade repository. In the European Union, trade repositories are approved under the EMIR regulation by ESMA. Since February 12, 2014, all derivative contracts (Cleared and non-cleared […]

Trading platforms

Trading platforms, also known as electronic trading platforms, are software programs provided by third parties that allow investors and traders to access, monitor and operate in the financial markets in exchange for a fixed fee, at a discount rate or, in some cases, for free. The Internet and financial technology developments have provided investors with […]

Transaction Cost Analysis (TCA)

Transaction cost analysis is the method used by businesses and institutional investors to find out the effectiveness of their portfolio transactions. In the corporate world, TCA is becoming a regular procedure for an increasing number of treasurers and CFOs of international businesses who want to measure the quality of their company’s FX operations. The analysis […]

Transaction Exposure

Transaction Exposure, also known as Transaction Risk is the risk that foreign exchange fluctuations pose to international companies, and can seriously affect financial obligations or even cause major losses. When a company signs a deal involving a foreign currency payment due on a future date, that company faces transaction exposure from the moment they sign […]

Transaction exposure management

Transaction exposure management is a general term referring to the different methods that companies use to protect foreign currency-denominated cash flows from transaction risk. This risk is generated by the potential negative impact of exchange rate fluctuations between the moment when a transaction is registered in the company’s books and its settlement. International companies that […]

Transaction internationale

Une transaction internationale est une opération dépassant les frontières nationales entre généralement deux ou parfois trois devises, si une monnaie de réserve comme le dollar est utilisée. L’exception à cette règle est lorsque deux entreprises de deux pays de la zone euro commercent entre eux car ils utilisent la même monnaie, l’euro. Exemple d’une transaction […]