Derivatives · glossary

Mark-to-market ("mark")

The bank's figure for what a trade is worth today, at mid. It moves every day and is a value, not a bill, so it becomes cash only when a trade ends. The loan counts the swap at its mark when the mark runs against Atlas. Chapter 5 · Chapter 9

Explained in Chapter 5, Representations, Undertakings and the Paper Trail, of Derivatives.

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