An EXCHANGETRADED DERIVATIVE or OVERTHECOUNTER DERIVATIVE with an UNDERLYING reference based on FOREIGN EXCHANGE rates and flows. A currency derivative can be structured as a currency OPTION, currency forward, CURRENCY FUTURE, CURRENCY SWAP, or CURRENCY WARRANT. See also COMMODITY DERIVATIVE, CREDIT DERIVATIVE, EQUITY DERIVATIVE, INTEREST RATE DERIVATIVE.
A FUTURES contract, bought or sold via an EXCHANGE, which references a specific FOREIGN EXCHANGE rate. Currency futures are available on both CONVERTIBLE CURRENCIES and select EXOTIC CURRENCIES. See also COMMODITY FUTURE, INDEX FUTURE, INTEREST RATE FUTURE.
An OVERTHECOUNTER SWAP involving the exchange of two currencies. A typical currency swap involves the exchange of a fixed payment in one currency for a floating payment in a second currency, although the exchange of two fixed or two floating payments can also be arranged. Currency swaps involve the initial and final exchange of principal, which results in a high degree of CREDIT RISK. Also known as CROSS CURRENCY SWAP. See also CURRENCY DERIVATIVE.
A longdated currency OPTION (i.e., three to five years) that is typically attached to a BOND (as a BOND WITH WARRANTS). The warrant, which can be detached and traded separately, is generally denominated in a currency that is different from the currency of underlying bond issue and is included to give the issuer a lower overall cost of funding.
In ecclesiastical law. The ecclesiastical or spiritual charge of a parish, including the usual and regular duties of a minister in charge. State v. Bray, 35 N. C. 290.
A time frame of 30 to 90 days during which a company that has gone into technical DEFAULT on a contractual payment is permitted to submit payment without further prejudice, and without being considered to have defaulted. Also known as GRACE PERIOD.
An Institution supposed to have been introduced into England by order of William the Conqueror, which consisted in the ringing of a bell or bells at eight o’clock at night, at which signal the people were required to extinguish all lights in their dwellings, and to put out or rake up their fires, and retire to rest, and all companies to disperse. The word is probably derived from the French couvre feu, to cover the fire.
In old European law. A court. The palace, household, or retinue of a sovereign. A judicial tribunal or court held in the sovereign’s palace. A court of justice. The civil power, as distinguished from the ecclesiastical. A manor; a nobleman’s house; the hall of a manor. A piece of ground attached to a house; a yard or court-yard. Spelman. A lord’s court held in his manor. The tenants who did suit and service at the lord’s court A manse. Cowell. In Roman law. A division of the Roman people, said to have been made by Romulus. They were divided into three tribes, and each tribe Into ten curiw, making thirty curiw in all. Spelman. The place or building in which each curia assembled to offer sacred rites. The place of meeting of the Roman senate; the senate house. The senate house of a province; the place where the dccuriones assembled. Cod. 10, 31, 2. See DECUBIO.
The court of admiralty.
The court will advise; the court will consider. A phrase frequently found in the reports, signifying the resolution of the court to suspend judgment in a cause, after the argument until they have deliberated upon the question, as where there is a new or difficult point involved. It is commonly abbreviated to cur. adv. vult, or c. a. v. Curia cancellarite officina justitiae. 2 Inst. 552. The court of chancery is the workshop of justice.