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International markets and foreign exchange operations - Savluk M.І.

Rozdil 12. SWAPI

Pislya vivchenny tsy rozdіlu v zozhete

  • z'yasuvati, which is the currency swap for those who want to win ;
  • zrozumіti mehanizm zdіysnennya currency swaps;
  • stack a swap;
  • kotiruvati please swap;
  • vipisuvati tiketi for the pleasures of a swap;
  • z'yasuvati, which is also the percentage of the market capitals for those who want to feel good;
  • zrozumіti mehanizm zdіsnennya interest swaps;
  • rozrahuvati side of quotation of the base interest rate swap;
  • Explain how such a currency and interest rate swap, what kind of stink, what kind of money do you want for certain purposes.

12.1. Swap the market for conversion operations

12.1.1. Understanding currency swaps and ix classifications

Currency swap - with the exchange of two currencies for the singing period from Maybutny to the parties please. Currency swaps on swaps with fixed rates and swaps with floating rates (percentage swaps):

  • Swap with fixed rates, which is a combination of conversion lands with different dates of currency exchange (more and more currency swap). It’s good to have a forex look at the forex market. The swaps will be detailed in detail below;
  • Swap with floating interest rates (interest-bearing foreign currency interest-rate swaps), which is a swap of assets of any goiter or loan (in one currency in other currencies). The stink is overwhelmingly victorious in the market of capital.

Swaps with fixed currency rates can be done in two ways:

  • yak combination of two convertible conversion lands for the same amount with different dates of currency exchange;
  • yak dvustrachny deposit deposit for equivalent sums of currencies.

Swaps have been called recently and for a dozen rockies, they have become one of the main concerns, victorious organizations for managing assets and goats. Rinok swap having appeared in 60 years of age, if they have the opportunity to invest in premiums, introduced by the authorities to control the British business in Great Britain, have divided the possibilities of the British companies to invest abroad. Compensation winiki poses are a method that can help me to squeeze together. The British company posited for British sterling British companies, and the American company, at its place, posited the US dollar for British companies, which invested in the USA.

We take into account the currency swap yak ogod z dvoma conversion ugony. Swap operation is recognized by dealers as soon as one pleases, including two-way conversion operations. The date of the weekend of the near conversion is called the date of the currency, and the date of the weekend of the week for the term of the term is the date of the maturity date.

Currency swaps classify for the sign with signs:

1. For terminology:

  • simple swap (standard) - conversion persuasion is pleasing on the minds of the spot, and the hassle-free operation is on the minds of the forward (for example, swap type spot / week (spot / week), spot / month (spot / month), etc.);
  • swap forward / forward - the first conversion is pleasing to settle on the minds of the forward, and the quick operation is the same on the minds of the forward, ala to the big three-way term;
  • swap from dates of currency to spot - the first conversion of interest to be settled with the date of currency to spot and the most difficult operation - on the minds of a spot (swap type to / next (to / next), to / next (to / next) and to / spot (tod / spot)).

2. For the type of storage:

  • swap type buy / sell (b / s) - as a rule, in the first conversion currency the currency is bought, and in the lower currency it is for sale,
  • swap type sell / buy (s / b) - as a rule, in the first conversion operation currency is sold, and in the difficult operation - buy.