A break forward is a forward deal where the customer is allowed to reverse the deal at an agreed break rate.
A range forward is a forward deal with two forward rates, where settlement takes place at the higher forward rate if the spot rate at maturity is higher than that, at the lower forward rate if the spot rate at maturity is lower than that, or at the spot rate at maturity otherwise.
A participation forward is a forward deal where, if the spot rate at maturity turns out to be more advantageous than the forward rate, the customer receives a share of the better result that he would have had if he had not dealt forward.
Various OTC option-based products are ...
No credit card required