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Chapter 7. Derivatives markets. Manual for SOA Exam FM/CAS Exam 2.
 

Summary: 1/78
Chapter 7. Derivatives markets.
Manual for SOA Exam FM/CAS Exam 2.
Chapter 7. Derivatives markets.
Section 7.10. Swaps.
c 2009. Miguel A. Arcones. All rights reserved.
Extract from:
"Arcones' Manual for the SOA Exam FM/CAS Exam 2,
Financial Mathematics. Fall 2009 Edition",
available at http://www.actexmadriver.com/
c 2009. Miguel A. Arcones. All rights reserved. Manual for SOA Exam FM/CAS Exam 2.
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Chapter 7. Derivatives markets. Section 7.10. Swaps.
Swaps
Definition 1
A swap is a contract between two counterparts to exchange two
similar financial quantities which behave differently.
The two things exchanged are called the legs of the swap.
A common type of swap involves a commodity. Another
common type of swap is an interest rate swap of a fixed

  

Source: Arcones, Miguel A. - Department of Mathematical Sciences, State University of New York at Binghamton

 

Collections: Mathematics