Swap Valuation
{"Image DocumentName": "Swap Valuation", "Image ImageDescription": "At origination, most plain vanilla swaps have an economic value of zero. This means that neither counterparty is required to pay the other to induce that party into the agreement. An economic value of zero requires that the swap\u2019s underlying bond positions trade at par\u2014par value swap. If this were not the case, then one of the counterparties would need to compensate the other. In this case, the economic value of the swap is not zero. Such a swap is referred to as an off-market swap.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}