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BlueGamma Explains

Practical guides to interest rates, swap pricing and hedging, backed by real market data.

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When Your Lender Isn't the Hedge Provider: Running a Standalone Swap Process
August 11, 2026
Project Finance

When Your Lender Isn't the Hedge Provider: Running a Standalone Swap Process

If the bank funding your project won't provide the interest rate hedge, you have to run a separate process to find one. This is what that process looks like, step by step — from the security consent that gates your pricing through to checking the trade confirmation.
The JIBAR to ZARONIA Transition: the Dates, the Spread, and What the Data Says
July 21, 2026
Swaps

The JIBAR to ZARONIA Transition: the Dates, the Spread, and What the Data Says

JIBAR ends on 31 December 2026. What the fixed 16.19bp credit adjustment spread means at today's rates, and how fast ZAR swaps are switching to ZARONIA.
What Are Swap Rates, and How Do They Set Your Mortgage?
July 3, 2026
Swaps

What Are Swap Rates, and How Do They Set Your Mortgage?

Swap rates, not the base rate, set UK fixed mortgage pricing. A plain-English guide to SONIA swaps, lender margins and why rates move when they do.
In the UK, 50-year money is currently cheaper than 25-year (and has been for 5 years)
June 26, 2026

In the UK, 50-year money is currently cheaper than 25-year (and has been for 5 years)

UK SONIA swap rates show an unusual curve shape: 50-year money is cheaper than 25-year money, and this has held every month since 2021.
Interest Rate Collar Hedging: How It Works, Cost, and When to Use One
April 30, 2026
Hedging

Interest Rate Collar Hedging: How It Works, Cost, and When to Use One

Learn how interest rate collars work, how they compare to caps and swaps, and how zero-cost collars are priced. Includes live SOFR cap and floor pricing data.
Yield Curve Shapes & Term Structure of Interest Rates Explained
April 26, 2026

Yield Curve Shapes & Term Structure of Interest Rates Explained

Learn what yield curve shapes mean, the four main types (normal, inverted, flat, humped), and how curve shape affects hedging strategy. Includes live yield data.
Derivative Valuation: Methods, Models & Practical Applications
April 24, 2026

Derivative Valuation: Methods, Models & Practical Applications

Learn how derivatives are valued using discounted cash flows, the Black model, and other approaches. Includes live discount curve data and worked swap valuation example.
Blend and Extend Swaps: How to Restructure Your Interest Rate Hedge
April 22, 2026
Swaps

Blend and Extend Swaps: How to Restructure Your Interest Rate Hedge

Learn how blend and extend swap restructuring works, when to use it, and how the blended rate is calculated. Includes a worked example with live market data.
Interest Rate Hedging: Strategies to Manage Rate Risk
April 20, 2026
Hedging

Interest Rate Hedging: Strategies to Manage Rate Risk

Compare interest rate hedging strategies including swaps, caps, collars, and swaptions. Includes live pricing data and a decision framework for borrowers.
Back-to-Back Interest Rate Swaps Explained
April 18, 2026
Interest Rate Swaps

Back-to-Back Interest Rate Swaps Explained

Learn how back-to-back interest rate swaps work, why banks use them, and how borrowers benefit. Includes a worked example with live swap rate data.
Deal-Contingent Hedging: Swaps, Forwards & M&A Best Practices
April 16, 2026

Deal-Contingent Hedging: Swaps, Forwards & M&A Best Practices

Learn how deal-contingent hedging protects M&A and LBO transactions from interest rate and FX risk. Covers swaps, forwards, caps, pricing, and implementation steps.
Hedge Accounting Explained: A Beginner's Guide
April 16, 2026

Hedge Accounting Explained: A Beginner's Guide

Understand hedge accounting under IFRS 9 and ASC 815. Covers the three hedge models, fair value vs cash flow hedges, effectiveness testing, and common pitfalls.
How to Price a Cross-Currency Swap
April 16, 2026
Swaps

How to Price a Cross-Currency Swap

Learn how to price a cross-currency swap in 5 steps. Includes the three main types of XCCY swaps, live USD/EUR/GBP swap curves, a worked EUR 50M example, and FAQs.
Interest Rate Swaps Explained: A Beginner's Guide
April 16, 2026
Swaps

Interest Rate Swaps Explained: A Beginner's Guide

Interest rate swaps explained for beginners. Learn how they work, types, benefits, risks, and a worked $50M example with live SOFR swap curve data.
What is an Interest Rate Cap & How Does it Work? With Examples
April 14, 2026
Interest Rate Cap

What is an Interest Rate Cap & How Does it Work? With Examples

Learn what an interest rate cap is, how it works, when to use one, and how cap premiums are calculated. Includes live pricing data and worked examples for corporate borrowers.
What Is a Swaption? Payer vs Receiver, Pricing and Examples
February 23, 2026
Interest Rate Derivatives

What Is a Swaption? Payer vs Receiver, Pricing and Examples

A swaption is an option to enter an interest rate swap at a set rate on a future date. How payer and receiver swaptions work, what they cost, and how they are priced, with live data.
How to Calculate Discount Factors: Formula, Examples & Live Data
February 18, 2026
Guides

How to Calculate Discount Factors: Formula, Examples & Live Data

Learn how to calculate discount factors with the formula, worked examples, a reference table, and a step-by-step Excel tutorial using live SOFR, SONIA, and EURIBOR market data.
BlueGamma launches world-first end-to-end swap pricing API endpoint
February 9, 2026

BlueGamma launches world-first end-to-end swap pricing API endpoint

Calculate mid rates, MTM, and cashflows in milliseconds. BlueGamma’s new /swap_pricer endpoint handles stubs, schedules, and curves automatically—stop building valuations from scratch.
Term SOFR vs Compounded SOFR: Understanding the Difference for Your Loans
February 4, 2026
Interest Rates

Term SOFR vs Compounded SOFR: Understanding the Difference for Your Loans

The difference between Term SOFR and Compounded SOFR comes down to timing: Term SOFR is set at the start of an interest period, while Compounded SOFR is calculated at the end. We explore the practical implications and show you how to fetch both rates via the BlueGamma API.
Bloomberg Terminal Alternatives 2026: Financial Data Stack
January 1, 2026

Bloomberg Terminal Alternatives 2026: Financial Data Stack

We explore the best Bloomberg Terminal Alternatives, because while the Bloomberg Terminal is a powerful, comprehensive tool, its all-in-one nature comes with a hefty price tag.
Forex Forward Curve API: Building an FX Forward Curve
December 16, 2025
Forward Curves

Forex Forward Curve API: Building an FX Forward Curve

Use the BlueGamma Forex Forward Curve API to construct precise FX curves in seconds. Learn to fetch rates, visualise trends, and compare differentials using Python.
What is a Zero-Coupon Yield Curve (Spot Curve)? The essential Rate for Discounting
December 10, 2025

What is a Zero-Coupon Yield Curve (Spot Curve)? The essential Rate for Discounting

Learn what a Zero-Coupon Yield Curve is, how it’s constructed and how to retrieve rates directly via API or Excel Add-in.
What is Euribor & why is it important?
December 2, 2025
Forward Curves

What is Euribor & why is it important?

What is Euribor and why is it important? A complete guide to the Eurozone's key interest rate benchmark, covering its use in derivatives and how it works.
What are Overnight Index Swaps (OIS)?
November 28, 2025
Swaps

What are Overnight Index Swaps (OIS)?

What is an Overnight Index Swap? Learn the definition of OIS, how fixed vs floating legs work, and why it is the market standard for discounting derivatives.
Forex Forecasting for Long-Dated Cash Flows
November 27, 2025

Forex Forecasting for Long-Dated Cash Flows

A guide to Forex forecasting in financial modelling. Compare Forward Rates, Interest Rate Parity (IRP), and Purchasing Power Parity (PPP) for accurate valuations.
EURIBOR API: Complete Guide to the BlueGamma API for EURIBOR
November 21, 2025

EURIBOR API: Complete Guide to the BlueGamma API for EURIBOR

Master the BlueGamma EURIBOR API with this step-by-step Python tutorial. Learn how to calculate swap rates, build forward curves, and access historical data.
What is an Interest Rate Forward Curve?
November 12, 2025
Forward Curves

What is an Interest Rate Forward Curve?

This blog explains forward curves for interest rates and forex, discussing its definition, types, influences, and its construction, essential for informed financial decision-making and risk management.
What is a Forward-Starting Swap & How to Price One?
November 5, 2025
Swaps

What is a Forward-Starting Swap & How to Price One?

Discover what a forward-starting swap is, how it works, and how it helps hedge future interest rate risk. Learn pricing, valuation, and practical use cases.
What is a Forward Rate Agreement and how does it work?
November 4, 2025

What is a Forward Rate Agreement and how does it work?

Learn what a Forward Rate Agreement (FRA) is, how it works. Explore the FRA calculation and how the post-LIBOR transition reshaped global FRA markets.
Interest Rate Swap Calculator
September 4, 2025
Swaps

Interest Rate Swap Calculator

Learn how to calculate interest rate swaps to update your financial models efficiently.
ISDA Master Agreement & Credit Support Annex – A Negotiation Guide for loan linked ISDA
August 6, 2025

ISDA Master Agreement & Credit Support Annex – A Negotiation Guide for loan linked ISDA

A practical guide to negotiating your 2002 ISDA & Credit Support Annex when hedging loans with swaps—timelines, key terms, and borrower protections.
Interest Rate API: Integrate Forward Curves & Swap Rates in Minutes
May 29, 2025

Interest Rate API: Integrate Forward Curves & Swap Rates in Minutes

Say goodbye to terminals, SFTP jobs, and complex data feeds. BlueGamma’s Interest Rate API gives you instant access to swap rates, forward curves, and discount factors - ready to plug and play. Built for developers, used by teams across Europe.
Introducing Custom Dashboards in BlueGamma
May 29, 2025

Introducing Custom Dashboards in BlueGamma

Financial Dashboards made easy. Now you can build your own dashboard in BlueGamma. Pin the charts and rates you care about, and get the data you need at a glance - every time you log in.
Computing the DSCR for a project finance loan with BlueGamma
May 14, 2025

Computing the DSCR for a project finance loan with BlueGamma

Debt service coverage ratio (DSCR) is the key measure of a project’s ability to meet its debt obligations from its own cash flow. We’ll look at the definition from a facilities agreement for a renewable energy project and use the BlueGamma Excel Add-In to pull interest rates
Term CORRA: What It Is, How It's Calculated, and Whether It's Accurate
May 14, 2025

Term CORRA: What It Is, How It's Calculated, and Whether It's Accurate

Term CORRA is Canada's forward-looking benchmark based on CORRA futures, but how accurate is it? This post explains how it's built, when it diverges from realized rates, and what real market data shows. Includes graphs, forecast error analysis, and a breakdown of the CBAS methodology.
SOFR Curve Construction: A Quick Guide
May 10, 2025

SOFR Curve Construction: A Quick Guide

Learn how SOFR forward curves are constructed and how to automate the process using BlueGamma’s API. Includes Python code and full API documentation
Swap Breakage Calculator: How to Calculate Fees Using BlueGamma
May 9, 2025

Swap Breakage Calculator: How to Calculate Fees Using BlueGamma

Looking for a simple and accurate Swap Breakage Calculator or Swap Breakage Fee Calculator? Whether you're managing a portfolio or unwinding a hedge, understanding the mark-to-market (MtM) value of your swap is the first step. With BlueGamma, you can calculate it in minutes—no spreadsheets or complex models required.
Swap Rate Calculation in Project Finance: How to Get It Right
May 7, 2025
Swaps

Swap Rate Calculation in Project Finance: How to Get It Right

In project finance, locking in a fixed rate through an interest rate swap is more than just good practice—it's a requirement. Whether you're modeling senior debt repayments or stress-testing CFADS, the swap rate calculation feeds directly into affordability, DSCR, and overall project viability.
Mark to Market Calculation Explained with an Example
May 6, 2025
Mark-to-Market

Mark to Market Calculation Explained with an Example

Curious how a mark to market calculation really works? Follow our simple interest rate swap example with BlueGamma Solar and see how you can value a swap in minutes
Case Study: What the CORRA Forward Curve Tells Us - April 2025
May 2, 2025

Case Study: What the CORRA Forward Curve Tells Us - April 2025

With Trump’s latest tariff proposals shaking global markets, what does the Canadian interest rate outlook tell us about what’s next?
Swap de taux - qu’est-ce que c’est et comment ça fonctionne en pratique
May 1, 2025
Swaps

Swap de taux - qu’est-ce que c’est et comment ça fonctionne en pratique

On va voir ce qu’est un swap de taux, comment fonctionnent les flux de trésorerie, et si vous restez jusqu’à la fin, on vous expliquera où trouver les courbes de forwards 3M EURIBOR et vous proposera un essai gratuit de notre calculateur de swap de taux.
How to Build a CORRA Forward Curve with the BlueGamma API Using Python
April 10, 2025

How to Build a CORRA Forward Curve with the BlueGamma API Using Python

How to Fetch Forward Rates and Build a CORRA Forward Curve with the BlueGamma API Using Python
Mark to Market (MtM) for Interest Rate Swaps
March 20, 2025

Mark to Market (MtM) for Interest Rate Swaps

This guide will show you how to calculate mark to markets for interest rate swaps in <1 minute using BlueGamma's mark to market calculator.
Interest Rate Data Provider - What to look out for when choosing one
January 5, 2025

Interest Rate Data Provider - What to look out for when choosing one

Interest rates can make or break your investments when leverage is involved, making it important to get the right provider. In this blog, we explore the key factors—accuracy, scope, speed, and security—that set top interest rate data providers apart. We also show how BlueGamma is a simpler, faster alternative to traditional solutions (like Bloomberg) for modellers, treasurers, and accountants, offering global coverage and transparent pricing.
How to Build a SOFR Forward Curve with the BlueGamma API Using Python
November 27, 2024

How to Build a SOFR Forward Curve with the BlueGamma API Using Python

How to Fetch Forward Rates and Build a SOFR Forward Curve with the BlueGamma API Using Python
How to Pull a Forward Curve Directly into Excel
November 26, 2024

How to Pull a Forward Curve Directly into Excel

Easily pull forward curves into your financial model with the BlueGamma Excel Add-In. Follow our step-by-step guide to get started with real-time market data.
Interest During Construction (IDC) in Project Finance
November 7, 2024

Interest During Construction (IDC) in Project Finance

IDC in project finance is the interest on debt during construction, often capitalized to ease cash flow.
Guide to Bloomberg Terminal Pricing
October 10, 2024
Data Platforms

Guide to Bloomberg Terminal Pricing

Looking to understand how much a Bloomberg Terminal costs? Then this blog is for you. We explore standard Terminal pricing, subscription options, and how to decide what platform is right for you.
Understanding the Swap Curve: A Quick Overview
August 21, 2024
Swaps

Understanding the Swap Curve: A Quick Overview

The swap curve shows the relationship between swap rates and maturities, offering critical insights for forecasting and risk management. This blog explains its significance and how it differs from the yield curve.
How Economic Events Contribute to Swap Rate News
August 14, 2024

How Economic Events Contribute to Swap Rate News

Events and news that affects consumer and corporate sentiment on a national scale can be considered relevant to swap rate news, as these events influence how corporations and governments react, impacting interest rates and the overall economic outlook. In this blog we will consider these events and news in more detail.
Subscription vs. pay-as-you-go pricing: what's best for financing teams
April 8, 2024
Data Platforms

Subscription vs. pay-as-you-go pricing: what's best for financing teams

A blog looking at the data needs of financing teams to understand why they prefer subscription based pricing
5 Types of EURIBOR
March 15, 2024
Hedging

5 Types of EURIBOR

The deep dive into the 5 main types of EURIBOR and the differences between them
Bloomberg vs. Refinitiv vs. BlueGamma - Navigating the Market Data Maze
January 15, 2024
Data Platforms

Bloomberg vs. Refinitiv vs. BlueGamma - Navigating the Market Data Maze

Explore our 2024 comparison of Bloomberg, Refinitiv and BlueGamma to determine the best fit for your needs
Interest Rate Hedging & Renewable Energy
January 9, 2024
Hedging

Interest Rate Hedging & Renewable Energy

Renewable energy projects are usually financed by Project Finance but this can introduce interest rate risk
Pre-Hedging Interest Rate Risk: Project Finance
January 8, 2024
Hedging

Pre-Hedging Interest Rate Risk: Project Finance

A summary of the products used to pre-hedge interest rate risk in project finance transactions.
Reflections on 2023 and a look ahead
January 4, 2024
Editorial

Reflections on 2023 and a look ahead

Reflecting on EUR interest rates in 2023, AI and a look at whats in store for BlueGamma in 2024
Bloomberg vs. FactSet vs. BlueGamma
December 21, 2023
Data Platforms

Bloomberg vs. FactSet vs. BlueGamma

A comparison of Bloomberg, FactSet and BlueGamma, market data platforms
How to overcome Bloomberg’s Download Limit
October 5, 2023
Data Platforms

How to overcome Bloomberg’s Download Limit

With volatility in interest rates, refreshing your excel work book can hit you with a rate limit. We look into why this happens and how you can stop it.
A case study: Realised SONIA Rate in 2023 vs. SONIA Forward Curve projections in 2022
September 7, 2023
Forward Curves

A case study: Realised SONIA Rate in 2023 vs. SONIA Forward Curve projections in 2022

In this blog post, we compare the expected SONIA rates projected in September 2022 with the actual SONIA rate seen in2023 and discuss the factors that could be causing a divergence.
What Is The SONIA Rate?
September 7, 2023
Forward Curves

What Is The SONIA Rate?

This blog is a deep dive into the SONIA rate, its fundamentals, applications in finance, risk management, and bond pricing.
What is Mark to Market? A Beginner’s Guide
September 5, 2023
Mark-to-Market

What is Mark to Market? A Beginner’s Guide

This article provides a comprehensive guide to understanding the concept of Mark-to-Market and its impact on financial reporting.
What Is EONIA?
September 1, 2023
Forward Curves

What Is EONIA?

This blog provides an in-depth look at the EONIA forward curve, exploring its fundamental concepts, influence on financial markets, and importance for financial analysts.
How Are Renewable Energy Projects Financed?
August 31, 2023
Project Lifecycle

How Are Renewable Energy Projects Financed?

This blog explores the role of project financing in advancing renewable energy development and promoting sustainable energy transitions.
What Are Interest Rate Swaps?
August 31, 2023
Swaps

What Are Interest Rate Swaps?

This blog post takes a deep dive into the world of financial markets by examining the 10 key shifts in swap rates over the past five years, exploring their causes, impacts on the economy, and implications for the future.
What Is SOFR?
August 18, 2023
Forward Curves

What Is SOFR?

This blog dives into the SOFR Interest Rate Forward Curve, its fundamentals, and its implications in project financing.
Why Is LIBOR Being Replaced?
August 18, 2023
Forward Curves

Why Is LIBOR Being Replaced?

This blog is a comprehensive breakdown of LIBOR and why it's being abandoned.
BlueGamma Shortlisted for Inspiratia Awards 2023
August 1, 2023
Data Platforms

BlueGamma Shortlisted for Inspiratia Awards 2023

BlueGamma is nominated for Best Software Provider at inspiratia's 2023 Energy Transition Awards.
Bloomberg Terminal vs. S&P Global Market Intelligence: 2023 Comparison
July 7, 2023
Data Platforms

Bloomberg Terminal vs. S&P Global Market Intelligence: 2023 Comparison

Read our 2023 comparison of Bloomberg Terminal and S&P Global Market Intelligence and judge the best fit for project finance.
4 More Questions to Ask: Interest Rate Hedging
April 19, 2023
Hedging

4 More Questions to Ask: Interest Rate Hedging

Still confused about how to approach hedging with rising interest rates? Here are 4 more questions you should ask...
5 Ways That Hedging Can Go Wrong
April 12, 2023
Hedging

5 Ways That Hedging Can Go Wrong

Unsure about how hedging can fail and the critical risk factors involved? Here are five ways that hedging can go wrong.
SONIA Rates Year in Review: Where Next for the BoE?
October 9, 2025

SONIA Rates Year in Review: Where Next for the BoE?

The UK interest rate market shifted 50-90 bps higher in 2025 as "higher for longer" became the new reality. With inflation at 3.2% and exceptional volatility signaling policy uncertainty, we expect the BoE's first cut delayed until Q1 2026, with rates ending 2026 at 4.00%—far above prior expectations.Retry