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Performance scenarios of a deal based on a 3X6 Forward

Performance scenarios of a deal based on a 3X6 Forward

PERFORMANCE SCENARIOS of a deal based on a 3X6 Forward

Rate Agreement on Libor in USD.

Parameters Abbreviation Value
FRA Fixed Rate Payer (%): P 6% (fixed leg)
Trade size (per Notional): TS $1,000,000
Margin %: M upon agreement between counterparties

BUY/LONG (Paying fixed/receiving floating) Opening Price Closing Price (incl. spread) Price change Profit / Loss
Favourable 6% 6.4% 0.4% $4000
Moderate 6% 6.2% 0.2% $2000
Unfavourable 6% 5.6% -0.4% -$4000
Stress 6% 5.3% -0.7% -$7000

SELL/SHORT(Paying Floating/Receiving fixed) Opening Price Closing price (incl. spread) Price change Profit / Loss
Favourable 6% 5.6% -0.4% $4000
Moderate 6% 5.8% -0.2% $2000
Unfavourable 6% 6.4% 0.4% -$4000
Stress 6% 6.7% 0.7% -$7000

Profit and loss calculated above are payable/receivable in 6 months from today. However, FRAs are settled once the LIBOR is fixed and known which is 3 months from today. All the Profit and loss amount are then discounted using the discount rate available which usually is the same of the LIBOR above.

Please be informed that the PnL will be always calculated in your trading Account’ currency.

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2022-04-21 • Updated

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