Currency Options
	A currency option gives the buyer the right, but not the obligation, to buy (call option) or to sell (put option) A specific amount of foreign currency against another currency At a fixed exchanged rate (exercise price, strike price) Within a pre-defined period of time (American style) or upon maturity only (expiry date, European style).

	Interest Rate Swap (IRS)
	An interest rate swap is an arrangement between two contracting parties to exchange Different interest payments in the same currency Based on a notional principal, (the underlying notional principal is not exchanged) For a specified period of time

	Forward Rate Agreement (FRA)
	A forward rate agreement (FRA) is an arrangement between two parties to fix an interest rate for a future interest period based on notional principal amount. It guarantees the other party a certain interest rate on a specified amount and for a specified period.

	Caps & Collars
	A cap is an agreement between the seller of a cap and a borrower (buyer) to put a ceiling on the interest rate of a floating-rate loan for a specified period of time. A collar is a combination of a cap and a floor. It protects from the risk of rising and falling interest rates. The purchase of a collar comprises the simultaneous purchase of a cap and sale of a floor with identical maturities, notional principals and reference rates.

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