Clearing, Settlement and Custody

䊏 Barrier options which is a general term for a family of options

which are either cancelled or activated if the underlying price

reaches a pre-determined level. They are also known as knock-

out, knock-in or trigger options

䊏 Caps and floors which are a series of ‘rollover’ rates agreed

whereby the difference in rates is paid, if applicable at the time

of the rollover

䊏 Collars which operate like ordinary options but have limits on

the level at which the customer can deal at a better market rate

than the underlying, in exchange for a lower premium

We also have puttable and callable swaps which allow the fixed-

rate receiver and fixed-rate payer respectiv ...