ARBITRAGEUR Definition

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ARBITRAGEUR is traditionally someone who indulges in arbitrage of any sort; now a Wall Street term for a professional investor who specializes in issues during takeovers.

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PLEDGE BOND see PLEDGED REVENUES.

CURRENCY SWAP is an exchange of two currencies accord­ing to an agreement to re-exchange the currencies at the same rate at a specified future date. During the term of the agreement, exchanges of interest payments denomi­nated in the respective currencies also may occur.

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