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Variance Swaps

Posted by Bill Campbell III, CFA on May 31, 2022
Posted in: Level III Derivatives.

Variance swaps more closely resemble forward contracts – or forward rate agreements (FRAs) – than they do swaps (e.g., plain vanilla interest rate swaps, or equity swaps).  Whereas most swaps have more than one payment, variance swaps (and forwards, and FRAs) have a single payment.  However, given the penchant of finance folks to ascribe inaccurate […]

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