total return swap การใช้

• A property total return swap is simply an exchange of cash flows.
• Arrangers of total return swaps have been marketing them to Kmart lenders, traders and bankers said.
• Some investors use total return swaps to convert dividends into capital gains, which are taxed at a lower rate.
• Total Return Swaps are also very common in many structured finance transactions such as collateralized debt obligations ( CDOs ).
• In total return swaps, the underlying asset, referred to as the reference asset, is usually an equity index, loans, or bonds.
• Under the total return swap or forward contract the parties will usually take contrary positions on the price movements of a property index.
• Investors can choose to obtain a passive exposure to these commodity price indices through a total return swap or a commodity index fund.
• Total return swaps allow the party receiving the total return to gain exposure and benefit from a reference asset without actually having to own it.
• An example is the 1999 ISDA Credit Derivatives Definitions, which provide basic definitions for credit default swaps, total return swaps, credit linked notes and other credit derivative transactions.
• Their tremendous variety is reflected in the nicknames given to various kinds : the jellyroll; the iron butterfly; the condor; the knockout option; the total return swap; the Asian option.
• Hedge funds ( such as The Children's Investment Fund ( TCI ) ) have attempted to use Total Return Swaps to side-step public disclosure requirements enacted under the Williams Act.
• Property derivatives usually take the form of a total return swap, forward contract, futures, or can adopt a funded format where the property derivative is embedded into a bond or note structure.
• Meanwhile, commercial and investment banks such as Bankers Trust Co ., Chemical Banking Corp ., J . P . Morgan & Co . and Bear, Stearns & Co . are arranging so-called total return swaps for banks to reduce the risk of their loans.
• Meanwhile, commercial and investment banks such as Bankers Trust Co ., Chemical Banking Corp ., J . P . Morgan & AMP; Co . and Bear, Stearns & AMP; Co . are arranging so-called total return swaps for banks to reduce the risk of their loans.
• Through a complex financial arrangement known as a total return swap, Enron retained all rights to any profits produced by the asset that was purportedly sold, and also assumed responsibility for paying the banks cash that equaled the total amount loaned to the partnership, plus a fixed interest rate.
• The core scope includes the products of Foreign Exchange ( FX ) Swaps and Options, Interest Rate Swaps, Inflation Swaps, Asset Swaps, Swaptions, Credit Default Swaps, Credit Default Swap Indices, Credit Default Swap Baskets, Tranches on Credit Default Swap Indices, Equity Options, Equity Swaps, Total Return Swaps, and many others.
• It can be thought of as a fully funded total return swap where the underlying asset total return is exchanged for a funding fee as well as the cost of the issued CLN . From a market risk perspective owning a CLN is almost identical to owning the local debt.