See Also: Swap(money)
Swap(finance)
Tax swap(finance)
swap(1)(dictionary)
swap(2)(dictionary)
swap(dictionary)
Tax swap(money)
Quanto swap(finance)
Non deliverable swap(finance)
Liability swap(finance)

swap(2) (iou)



swap noun. Also swop. LME.
[from the verb.]
I.
An act of striking someone or something; a stroke, a blow. obsolete exc. Scot. & dial. LME.
II.
An act of exchanging something; an exchange. Also, a thing exchanged. colloq. L16.
get the swap, have the swap slang be dismissed from employment.
H. Kissinger A..Jordan-Israel arrangement involving a swap of Gaza for West Bank territories. Times Heart swap hospitals hoping for more aid.
Finance. In foreign exchange operations: an exchange of an amount of money at different rates. Also more widely, an arrangement between the central banks of two countries for stand-by credit to facilitate the exchange of each other's currency. Usu. attrib. M20.
Comb.: swapfile Computing a file on a hard disk used to provide space for programs which have been transferred from the processor's memory; swap fund US Stock Exchange a fund which investors enter by exchanging securities directly for shares in the fund, obtaining a diversified portfolio without selling stock, and thereby avoiding liability for capital gains tax on the sale of these securities; swap-meet (orig. US) a gathering at which enthusiasts discuss, exchange, or trade items of common interest; swap shop colloq. an agency for putting people with articles to exchange or trade in touch with one another.