Senaf Terminal Quotation and Market window

Quotation prices will be traded by yield difference between the two operations of the switch. The figure corresponds to basis points, and the decimal places to basis point cents.

Trades resulting from switches will be shown in the same window as cash trades. They will be marked with an “S” for control purposes.

New positions and New Bid and Ask windows in Senaf Terminal

New Bid

This order aims to buy the short issue and sell the long issue.

In the case of switches with Strips in New Bid, it aims to buy the Principal and sell the Bond or Obligation.

New Ask

In the case of switches with Strips in New Ask, it aims to sell the Principal and buy the Bond or Obligation.

When the issue number is entered, the issue to be bought and sold will be automatically filled in.

The yield differential will be that of the yield difference between the long and the short issue, expressed in basis points, so that in most cases it will be positive.

The volume to be entered will be that of the short issue.

Crossed Transactions

Trade prices

The average market price will be used for the short issue.

If the price is missing on either side of the issue, the price corresponding to the theoretical curve will be used.

The basis points of the long issue’s yield will be added to or subtracted from the yield corresponding to the price of the short issue. Then, the ex-coupon price will be calculated.