two counterparties agree to exchange one stream of cash flows against another stream
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Swap (finance) - Wikipedia, the free encyclopedial instruments involved. For example, in the case of a swap involving two bonds, the benefits in question can be the periodic interest (coupon) payments associated with such bonds. Specifically, <span>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.[1] Usually at the tim Summary
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