| 1. | Delta One | ||
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In financial derivatives, where the hedge position corresponds one-for-one with the notional of the derivative.
This is always true of forwards and swaps: thus, Jérôme Kerviel, as a swaps trader, was on SocGen's Delta One desk. The amount of money that Kerviel was making, as a Delta One trader with a 500K risk limit, was suspicious.
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