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#asset-swap #finance #gale-using-and-tradning-asset-swaps
To help address the problems created by collateralisation for a par/par swap, the market value accrued or MVA technique can be used
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owner: piotr.wasik - Using and Trading Asset Swaps - Giles Gale (Morgan Stanley), p7

p-spread movements. Our discussion of the yield/yie ld methodology sho wed that the drawbacks of convexity and curve risk were unlikely to outweigh the advantage of simplicit y for most trades. Market Value Accrued (MVA) Asset Sw aps <span>To help address the probl ems created by collateralisation for a par/par swap, the market value accrued or MVA technique can be used. The MVA method is very similar to the par/par method, but the difference bet ween par and t he dirty price of the bon d is exchanged at maturity rather than at settlement and the



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