swap-n; 2 Senses

Sense Number 1: the act of trading or exchanging things of value between parties


The professor did a swap of his home in Boston for a colleague's in Paris during his year on sabbatical.
The store gave Mary a swap for the oversized sweater for one that fit.

WordNet 3.0 Sense Numbers: 1

Sense Number 2: a financial exchange of liabilities between borrowers

NOTE: a specific and widespread usage of Sense 1 that applies in the financial markets.

The two banks had arranged a currency swap.
This type of swap involves exchanging a fixed interest rate for a floating rate.
Chapter three of the book on portfolio theory describes bond swaps.

WordNet 0.0 Sense Numbers: 1b