SWAP

Swap

In finance, a swap is a derivative in which counterparties exchange cash flows of one party's financial instrument for those of the other party's financial instrument. The benefits in question depend on the type of financial instruments involved. For example, in the case of a swap involving two bonds, the benefits in question can be the periodic interest payments associated with such bonds. Specifically, two counterparties agree to exchange one stream of cash flows against another stream. These streams are called the legs of the swap. The swap agreement defines the dates when the cash flows are to be paid and the way they are accrued and calculated.

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swap

Noun

  1. An exchange of two comparable things.
  2. A financial derivative in which two parties agree to exchange one stream of cashflow against another stream.
  3. A blow; a stroke.
  4. Space available in a swap file for use as auxiliary memory.
    How much swap do you need?

Verb

  1. To exchange or give (something) in an exchange (for something else).
  2. To strike, hit.
  3. To fall or descend; to rush hastily or violently.
  4. To beat the air, or ply the wings, with a sweeping motion or noise; to flap.


The above text is a snippet from Wiktionary: swap
and as such is available under the Creative Commons Attribution/Share-Alike License.

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