teps to unwind complex spread at pre- determined price "Hard" bounds — guaranteed to be able to unwind the process at a known price EFTA00611855 Non-Arbitrage Bounds Process should not go beyond certain values due to fundamentals; however there is no way to unwind if it does Example: "asset quality" Equity wi

plex spread at pre- determined price "Hard" bounds — guaranteed to be able to unwind the process at a known price EFTA_R1_02212466 EFTA02725030 Non-Arbitrage Bounds Process should not go beyond certain values due to fundamentals; however there is no way to unwind if it does Example: "asset quality" Equity wi