The DV01 result indicates how the instrument’s market value (i.e., its Net PV or Market Price) changes for a 1 basis point shift of the yield curve.
When calculating it, the system assumes that the volatility will not stay constant given a shift in the yield curve. Accordingly, the DV01 result shows the actual anticipated move in the NPV/market value given a 1 basis point shift in the yield curve.
For most instruments only the total DV01 result is displayed in the pricing page. However, for the vanilla swap, the general swap and the overnight index swap the system also displays the DV01 result for each leg individually. This lets you see the sensitivity of each leg’s NPV to a 1 basis point shift of the yield curve.
You can also view the DV01 per tenor, i.e., see the sensitivity of a specific tenor to a 1 basis point shift, in the Single Option page for supported instruments in the Risk Matrix (this is accessed from the Single Option page by clicking the DV01/Gamma Buckets button). Alternatively, in the Portfolio page you can see the DV01 per tenor via the Risk Matrix.
It is important to note that for use in the Risk Matrix tool and in the Gamma Ladder Window you can change the default definition of this Greek. You do this in the Settings window > Greeks tab. For more information see Customizing the Greeks Calculations.