Talk:Reset (finance)

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Reset and fixing are Distinct

In FPML the concept of reset and fixing are distinct. A reset date says where a given fixing is to be applied among calculation dates. If there were a single calculation period we could have n reset dates within that. Each of these would be fixed by observing the market. The date of the observation is the fixing date, and each fixing would be applied to a reset. The FPML people say that if there are n rates in a calculation period these should be averaged.