A standard interest rate swap is a deal with payment streams in opposite directions, one fixed and one floating. The two streams are said to be the legs of the deal. The fixed leg is typically agreed to at the outset, whereas the floating leg is a rate based on some index such as LIBOR.
In HedgeOne, a swap is a both a stand-alone instrument and a template. It can be a component of a larger derivative product.
Data for a swap can be entered through the following dialog window.
