CFA Level 3 | CDS Upfront Premium
CFA Level 3
Portfolio Management Pathway
Learning Module: Fixed Income Active Management: Credit Strategies
At the initiation of a CDS contract, there may or may not be an upfront premium. And if there is an upfront premium, then it could be the protection buyer that pays the upfront premium or it could be the protection seller that pays the upfront premium. This is different than the ongoing premium that the protection buyer pays throughout the life of the contract.
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