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发帖数: 3656 | 1 synthetic CDO, (SCDO)
as oppose to a cashed or funed CDO, SCDO is a swap contract.
instead of buying a ware housing a pool of assets, the buyer of protection
in a SCDO transaction simply agree to payout the same quarterly cash flow as
a CDO.
in return, when the loss in the referenced pool of assets exceeds the
attachment of the tranche, the seller of protection pays the buyer of
protection the amount of the loss excceeding the attachment.
there is no money exchange at the beginning or expiration |
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