Virtual currency option

Definition:

A new option contract introduced by the PHLX in 1994 that is settled in US dollars rather than in the underlying currency. These options are also called 3-Ds (dollar-denominated delivery).

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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Cost of limited partner capital

The discount rate that equates the after-tax inflows with outflows for capital raised from limited partners.

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