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English definition of “swap”

swap

noun [C] ( UK also swop)     /swɒp/
FINANCE a situation in which one investment is exchanged for another: Many investors carry out debt-for-equity swaps.
FINANCE a situation in which payments on a loan in one currency are exchanged for those in another: A firm that wants a US dollar loan can arrange with a firm that wants a floating rate Yen loan for an interest rate swap.
a situation in which someone exchanges something they have for something else: Her boss suggested they do a job swap for a day.
→ See also currency swap, debt-equity swap, interest rate swap, credit default swap
(Definition of swap noun from the Cambridge Business English Dictionary © Cambridge University Press)
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