What Do You Mean by “On-The-Run” and “Off-The-Run” Issues?

Written By Security Bank ()

Updated at September 9th, 2020

“On-the-run” securities are the most recent issues of a particular maturity. Conversely, “off-the-run” securities are the opposite. “On-the-run” securities are generally more liquid than “off-the-run” securities. 

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