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 TRADING TOOLS
Dictionary
Tranches
Tranches
Image 1 Related securities that are offered at the same time but have different risk, reward, and/or maturity.
Image 2 For example a CMO tranch might have mortgages that are 1 year, 2 year, 5 year, and 20 year maturity's.


Collateralized Mortgage Obligation (CMO)