Page 140 - PRIAA Glossary

REFERENCE OBLIGATION
A debt obligation of a reference entity that is typically representative of the overall credit quality of the reference entity. The reference obligation determines the minimum seniority of an eligible deliverable obligation under a credit derivative. A deliverable obligation must not be subordinated to the reference obligation. It should be noted that there is no requirement to deliver the reference obligation in settlement of a credit derivative.
REFINING
The process by which hydrocarbons (such as crude oil and natural gas) are processed into usable products such as naphtha, gasoline, heating oil and gasoil.
REGIS–TR
A European Securities and Markets Authority (ESMA)- approved central trade repository based in Luxembourg. It is a joint venture between Spanish Iberclear and German Clearstream (which belongs to Deutsche Boerse).
REGISTERED ENTITY
Includes any of multiple types of entities that orchestrate trading in derivatives markets and are registered with the Commodity Futures Trading Commission (CFTC). Examples include designated contract markets (e.g., CME), derivatives clearing organisation (e.g., EUREX Clearing), swap execution facilities (e.g., Bloomberg SEF) and swap data repositories (e.g., DTCC).
REGRESSION
A statistical measure used to determine the strength of
the relationship between a dependent and independent variables. Two main types of regression, linear and multiple, attempt to explain this strength through either a single or multiple variables.
Mathematical forms of regression are given by the equations below.
Linear Regression: y = a + bx + u 138