BNET Business Dictionary
Business Definition for: Swap
- an exchange of credits or liabilities.
- an arrangement whereby two organizations contractually agree to exchange payments on different terms, for example, in different currencies, or one at a fixed rate and the other at a floating rate
- See also Interest Rate Swap
Wiktionary Definition for: Swap
- an equal exchange; "we had no money so we had to live by barter"
- exchange or give (something) in exchange for
- computer science move (a piece of a program) into memory
Additional Resources
- Credit Risk and the Yen Interest Rate Swap Market
- This paper investigates the pricing of Japanese yen interest rate swaps during the period 1990-96. The paper obtain measures of the spreads of the swap rates over comparable Japanese Government Bonds JGBs for different maturities and analyze the relationship between the swap spreads and credit risk variables. Our empirical results...
- White papers 2000-07-01
- The Valuation of Credit Default Swap Options
- This article develops models for valuing credit default swaps and European credit default swap options. The model for valuing European credit default swap options is very similar to the standard market model for valuing European swap options. Once default probabilities and expected recovery rates have been estimated, it enables traders...
- White papers 2002-09-01
- TCA, CSI swap. (TCA Cable TV Inc swaps Vallejo, CA, system for Communications Services Inc. system in Fort Smith, AR)(Brief Article)
- TCA Cable TV Inc. says it has completed the swap of its cable systems in Vallejo, Calif., with Communications Services Inc., a subsidiary of TCI Communications, for that company's systems in Fort Smith, Ark. With the swap ... TCA Cable TV Inc. says it...
- Research articles 1996-10-14
- LAND ROVER SETS UP SECOND-HAND SUV SWAP CENTER IN CHINA
- AsiaInfo Services 07-25-2006 Land Rover Sets up Second-hand SUV Swap Center in China BEIJING, Jul 25, 2006 SinoCast via COMTEX -- The world-known SUV brand Land Rover recently opened its first second-hand auto swap center in Beijing, which is AsiaInfo...
- Research articles 2006-07-25
- 'Swap' tries stealth pilot.(Flash!)(Wife Swap,television program)(Brief Article)
- Delighted by Wife Swap's performance so far in its debut season, ABC is prepping two special episodes. The first, airing Dec. 1, is a self-explanatory one-off: Wife Swap: The Husband Edition. But the other, yet-to-be-scheduled variation, Boss Swap, will function as a back-door pilot that may...
- Research articles 2004-11-22
- The Credit-Default Swap Market: Is Credit Protection Priced Correctly?
- This article examines the pricing of credit protection in the rapidly growing creditdefault swap market using an extensive data set provided by Citigroup. It fit a reduced-form model to corporate bond yields and solves for the credit-default swap premia they imply and compare this implied creditdefault swap premia to actual...
- White papers 2003-08-01
- Credit Default Swap Calibration and Equity Swap Valuation Under Counterparty Risk With a Tractable Structural Model
- Modelling firms default is becoming important, especially in recent times where the market is experiencing a large development in credit derivatives trading. This paper develops a tractable structural model with analytical default probabilities depending on some dynamics parameters, and shows how to calibrate the model using a chosen number of...
- White papers 2004-08-24
- The Relationship Between Credit Default Swap Spreads, Bond Yields, and Credit Rating Announcements
- A company's credit default swap spread is the cost per annum for protection against a default by the company. This paper analyzes data on credit default swap spreads collected by a credit derivatives broker. It then examines the relationship between credit default spreads and bond yields and reach conclusions on...
- White papers 2004-01-01
- The Market Price of Credit Risk: An Empirical Analysis of Interest Rate Swap Spreads
- This paper studies the market price of credit risk incorporated into the most important credit spreads in the financial markets: interest rate swap spreads. The approach consists of jointly modeling the swap and Treasury term structures using a four-factor affine credit framework and estimating the parameters by maximum likelihood. It...
- White papers 2000-10-01
- An Analytic Solution for Interest Rate Swap Spreads
- This paper argues that liquidity differences between government securities and short-term Eurodollar borrowings account for interest rate swap spreads. It then models the convenience of liquidity as a linear function of two mean-reverting state variables and values it. The interest rate swap spread for a swap of particular maturity is...
- White papers 2002-01-02
- NBC affils eye Olympics avail swap. (network affiliates; swap inventory to gain a share of NBC's profits from Olympic game broadcasting)
- NBC and its affiliates arg considering a proposal to swap inventory valued at $275 million that would represent the affiliates' contribution to help pay for the three Olympic games NBC has rights to in 1996, 2000 and 2002. If approved, the agreement NBC and its...
- Research articles 1996-05-20
- Turner eyes $1.65 billion KW bid: stock swap could net Turner $500 million to put toward CBS or buying out TW stake.(Turner Broadcasting is said to be proposing $1.65 billion stock swap for King World Productions)(Brief Article)
- Stock swap could net Turner $500 million to put toward CBS or buying out TW stake Talk of a possible sale of King World Productions to Turner Broadcasting heated up again last Friday, just as the FCC was dealing its blow to the...
- Research articles 1995-07-31
- Cox, Time Warner swap. (Cox Communications, Time Warner swap cable systems with 90,000 subscribers)(Brief Article)
- Cox Communications and Time Warner Entertainment-Advanced/Newhouse have traded cable systems serving roughly 90,000 subscribers. Financial terms of the deal were not disclosed, but as a result of the swap Cox will get Time Warner systems with about Cox Communications and Time Warner Entertainment-Advanced/Newhouse ...
- Research articles 1997-03-10
- TCI, Time Warner in $1B mega-swap talks. (Tele-Communications Inc.; Time Warner Inc.)
- In a sign that cable operators may be getting serious about trading systems, Tele-Communications Inc. and Time Warner Inc. are discussing a wide-ranging swap with a value approaching $1 billion. Other than the sheer size of the possible swap - inv In a...
- Research articles 1995-04-17
- Triple hot swap controller operates down to 1.7V and features multiple levels of over-current control. (Hot swap: monthly design ideas brought to you by Linear Technology)(Advertisement).(Linear Technology LTC4230)(Product Announcement)
- Achieving high reliability in systems with multiple low voltage, high current supplies requires attention to supply voltage ramp rates and current levels. Add hot swap capability and the requirement becomes one of safely controlling inrush current, Achieving high reliability in systems with multiple low...
- Research articles 2002-03-21
- SOT-23 -48V Hot Swap controller with active current limiting is immune to voltage transients. (Hot swap: monthly design ideas brought to you by Linear Technology)(Advertisement).(linear Technology LTC4251)(Product Announcement)
- Adding protection features while reducing package size is the LTC4251, a Hot Swap controller in the tiny 6-lead SOT-23 package that includes multiple stages of current limiting to protect -48V applications from different types of supply faults. Inr Adding protection features while reducing package...
- Research articles 2002-03-21
- CME joins race. (Swaps Anyone?).(plans to start trading two-, five-and 10-year swap futures contracts)(Brief Article)
- Competition for exchange-traded swaps business is heating up with the CME designing new two-, five-and 10-year swap futures contracts it plans to start trading in March. The CME joins Life and the CBOT in offering a swap product. The move is one of the few times the...
- Research articles 2002-03-01
- 'Wife Swap' does a Daddy switcheroo
- On Wife Swap each week, two moms trade places, merrily heading off to a new town with new kids and a new husband. And each week, at some point in the ABC reality show experience, those same moms cry and yell in frustration. "This isn't as much fun as...
- Research articles 2004-12-01
- Swap meets a great way to exchange stories and treasures.(Auto Plus)(Collector cars)
- Byline: Jim Leman My buddy Jim, who has restored a '56 VW Bettle and is now making a resto rod using a '31 Model A coupe body and frame, '37 Ford running gear and a '40 Ford flathead V-8 -- and who has sold...
- Research articles 2004-06-14
- Swap Spreads Correctly Forecast Improvement in Corporate Bonds
- Calafia Beach Pundit submits: I've been writing for months about how the decline in swap spreads was a leading indicator of improvement in other areas of the market. Lower swap spreads are a good indicator that liquidity and confidence are returning to the fixed-income market, and this is...
- External links 2008-12-31
