When-issued trading is trading in a security that has been announced but not yet auctioned or issued, for settlement on its issue date. Because the coupon is not yet known, it is quoted in yield.
Quantitative Finance · Glossary
Quantitative Finance · Glossary
When-issued trading is trading in a security that has been announced but not yet auctioned or issued, for settlement on its issue date. Because the coupon is not yet known, it is quoted in yield.