Derivatives · glossary
The first day of each quarter of the swap, when the new rate starts to apply. The rate itself is read two TARGET Settlement Days earlier, on the Fixing Day. Rate Definitions: Reset Date · Chapter 2
Explained in Chapter 2, The Swap, Line by Line, of Derivatives.
The Reset Date is the first day of the quarter. The Fixing Day is two working days earlier, when the rate is read. The working days are those of the euro's payment system, called TARGET. So each quarter's rate is known before the quarter starts and paid when it ends.Read Chapter 2, The Swap, Line by Line →
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