<t>I am sorry but it explains only the existence of different Premia quotations.In fact ICAP provides two pages with Premia. First one for spot Premia and the second page for fwd Premia (A-Variant).As expected the fractions of corresponded quotation are equal for the same expiries. (EONIA discount)....

<t>Hello Martinghoul!What do you mean with spot date in "swaption premia are paid on expiry date, rather than spot date"?Does it mean the following?in the past:the premium for cash settled swaptions was paid at the start date of underlying swap (expiry + something (e.g. 2 business days)).now:the pre...

Could you explain, please, the differences in terms of price (pv) calculation?

<t>Hello Forum!I have got different ICAP quotes for the "same" ATM Swaption Straddle, e.g.exp x swap term7Y x 1y - 22.7% 7Y x 1y - 22.4% The first quote is VCAP1. The second is VCAP1A.What is the meaning (difference) of these quotes? (i.e. how to calculate swaption pv)Which conventions are used for ...