CREDIT DEFAULT CONTRACT
Security whose price and risk level are based on the credit default risk by at least one underlying security issuers. It includes credit default swaps, credit default options, credit default index contracts, and credit default basket options. Used also as part of the mechanism behind several collateralized debt obligations, the contracts may have distinct covenants excluding company events like debt restructuring.
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Robert C. Merton
American economist who won the 1997 Nobel Memorial prize in Economic Sciences, along with Myron Scholes, for developing the Black-Sholes model, whi ...
Buy Stops Above
Recommendation to purchase a given security once a security’s price surpasses a particular resistance level by putting a buy stop order at th ...
Admitted Company
An insurance company admitted and allowed by an another state to transact insurance business despite having a domiciled status on an another state. ...
Black Box Model
Computer program, process, or system processing the information entered by the user using pre-programmed logic in order to produce the user’s ...
Form 3903
A form issued by the IRS and used by taxpayers to deduct moving expenses related to taking a new job.
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