Leg

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Leg

A prolonged trend in stock market prices, such as a multiple-period bull market; or, an option that is one side of a spread transaction. See: Lifting a leg.

Leg

In a swap, the individual future cash flows that are swapped. The legs are calculated over a notional principal amount, which is not exchanged between the counterparties. Thus, in a swap, the only things traded are the two legs, which each party pays the other at set intervals over the life of the contract. For example, in an interest rate swap, one party may agree to pay the other a fixed interest rate over a notional value while the second party may agree to pay a variable interest rate over the same notional value. In this case, the fixed interest rate and the variable interest rate are the swap's two legs.

leg

One side of a combination option. See also leg lifting, leg on, long leg, short leg.
References in periodicals archive ?
The woman was waiting on the Hagley Road at 7am when another woman -who police described as black, aged 20 to 35, around five foot and chubby with bow legs -grabbed the items out of her hand.
Rickets can result in stunted growth, delays in motor development, and bow legs in children.
Orthopedics -- In-toeing, Bow Legs, Limp, Back Pain, Scoliosis
KNEES UP Posing with her partner Brad Pitt THIGH THERE Ange pauses to flash her leg again onstage before presenting award BOW LEGS The spoof Twitter picture of Angelina NO CALF MEASURES Angelina shakes a leg on red carpet
Claire, of Calvert Close, North Ormesby, was born with bow legs and then at two-and-a-half she was diagnosed with kidney failure.
Such a vulnerable system can be knocked off balance very easily by intrinsic factors such as excessive bow legs or knock-knees; people whose joints move more than they should, particularly where the knee can bend backwards (hyperextension); people who have a slightly stiff hip; and those whose feet go flat when running (pronation), according to King.