What is a Non-Deliverable Swap (NDS)? A non-deliverable swap (NDS) is an exchange of different currencies, between a major currency and a minor currency, which is restricted. With most swaps, currency flows physically change. With an NDS, it is not the case because the currencies are not convertible. The two currencies that are involved in…
What is a No Dealing Desk? A no dealing desk is a system that allows for instant forex trades on the interbank market. Brokers that use the system work with several liquidity providers. It enables them to access the best bid and ask prices directly. Investors are given rates that can be executed immediately. Orders…
What is a Non-Equity Option? A non-equity option is an option with an underlying asset that is something other than common stock. In most cases, non-equity options include indexes and commodities as underlying assets. It’s really a broad term to define a variety of options, provided the option doesn’t involve common stocks. Non-equity options usually…
What is the ISERROR Excel Function? The ISERROR Excel Function is categorized under Information functions. The function will return TRUE if the given value is an error and FALSE if it is not. It works on errors – #N/A, #VALUE!, #REF!, #DIV/0!, #NUM!, #NAME? or #NULL. ISERROR is used in combination with the IF function…
What is the ISERR Excel Function? The ISERR Excel Function is categorized under Information functions. The function will return TRUE if the given value is an error (except N/A) and FALSE if it is not. It belongs to the IS group of functions, which includes ISERROR, IFERROR, etc. ISERR is used in combination with the…
Who are Strats? Strats refer to mathematicians, statisticians, computer scientists, and engineers who work in the financial services industry. In particular, strats are used to describe the mathematicians, statisticians, software developers, and engineers who work at investment banks in a front office role. The first strats team was set up within the strategies team at…
What is Shadow (Candlestick Wick)? In the world of finance and charting, a shadow is a line that makes up a candlestick pattern’s wick – the portion of the candlestick that represents price action outside of the candlestick body formed by the opening and closing prices of the period. Every candlestick chart must contain a…
What is Technical Decline? Technical decline is the downward price movement of a security that is caused by factors other than a fundamental change in the security’s value. The forces that power the downward movement relate to technical factors affecting the trading condition of the securities, but not the economic or fundamental factors that affect…
Using DOLLARDE for US Treasury Bonds Quotes The DOLLARDE Function is an Excel Financial function. It helps in converting a dollar value in fractional notation into a dollar value expressed in decimal notation. DOLLARDE will divide the fraction part of the value by an integer specified by the user. It is used in pricing US…
What is the Covariance Excel Function? The Covariance Excel function is categorized under Statistical functions. It calculates the joint variability of two random variables, given two sets of data. Suppose, as a financial analyst, that we wish to determine whether greater income accompanies greater levels of education in a population or not. In such a…
