Abstract
A swap is an agreement between two companies to exchange cash flows in the future. It is different from a forward contract in that a forward contract requires settlement of cash flows on just one future date, whereas a swap leads to cash flow exchanges taking place on several future dates. A cross currency swap (CCS) specifically involves an exchange of a stream of principal and interest payments in one currency for a stream of principal and interest payments in another currency over multiple specified interest periods. As well as the exchange of interest payments, there is also an exchange of the principals (in two different currencies) at the beginning of the contract and at the end.KeywordsCash FlowCredit Default SwapInterest PaymentUnderlying AssetBond IndexThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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