Hi,
Consider equity or fixed income total return swap, with resetting feature. reset dates being the dates at which reference asset's price appreciation or depreciation are settled. Are reference asset's reset frequency usually bigger than payment (Funding) leg's payment frequency? i.e. are usually ref asset reset dates subset of payment dates Or the other way round? could you please provide example trade?
This is probably a trivial question for those of you who deal with resetting TRS on a daily basis but I am new to them so I don't know.
Thanks in advance.