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Complex Swaps Page (5307 words) |
 | Basis swaps can be created from two interest rate swaps in which the two fixed legs cancel out between counterparties and the two floating legs are as required. |
| Swaps are actively traded and are generally quoted on a yield basis, that yield being the yield to maturity that equates the present value of the fixed side to that of the floating side. |
| A swap in which the counterparty moves up or down the yield curve twice in the same swap, yield curve swaps are a type of basis swap in which a shorter-term floating-rate index is swapped for a longer-term floating-rate index. |
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