What is Data Migration? Data migration is the process of transferring data from one data storage system to another and also between data formats and applications. It also involves data transfers between different data formats and applications. The data migration process also includes data preparation, extraction, and transformation. It is usually conducted when introducing new…
Top 6 Skills in Finance The world of finance rapidly evolves with the rise of digitization and globalization. Finance professionals need to constantly keep themselves well-trained and qualified to respond to the latest trends and market demands. As such, modern finance skills need to go beyond traditional computation and account management skills to survive in…
What is an Indexed Annuity? An indexed annuity is a financial product that pays out a return based on the performance of a linked index. The contract is backed by an insurance company and is popular among retirees because it provides a relatively steady stream of income with downside risk protection. However, it also severely…
What is the Key Rate? In Canada, the key rate is the interest rate set by the Bank of Canada to regulate short-term borrowing between financial institutions. The key rate has been labeled under different titles over time, including the bank rate, policy interest rate, and target for the overnight rate. The equivalent of the…
What is a Currency Option? A currency option refers to a derivative contract that gives the buyer the right but not the obligation to sell or buy currencies at a specified exchange rate within a specified time frame. They are useful for investors to hedge against unfavorable movements in exchange rates. Currency Options Terminology and…
What is Cross Currency Swap? Cross currency swap refers to an agreement between two parties to trade currencies. Over the duration of the swap, the interest payments are exchanged periodically, with the equal value principal exchanged at the origin and maturity. How Does Cross Currency Swap Work? Cross currency swap is based on comparative advantages…
