Degree Type
Honors Capstone Project
Date of Submission
Spring 5-1-2009
Capstone Advisor
Thomas Barkley
Honors Reader
Donald Dutkowsky
Capstone Major
Finance
Capstone College
Management
Audio/Visual Component
no
Capstone Prize Winner
no
Won Capstone Funding
no
Honors Categories
Professional
Subject Categories
Corporate Finance
Abstract
Swaps are versatile financial derivatives that create contracts to exchange future cash flows. Throughout the last several decades the uses and importance of swaps have grown substantially. This document examines swaps from a historical perspective and includes a discussion on issues such as economic justification, industry standardization, market participation, and day-count conventions. Four main classifications of swaps are discussed: interest rate swaps, currency swaps, equity swaps, and commodity swaps. Interest rate swaps are by far the most common; however, each classification offers unique traits that demonstrate the versatility and efficacy of swaps as an asset class. Each class of swap will have a section devoted to its history, basic structure, pricing, valuation, and customization.
Recommended Citation
Rizzolo, Michael, "Swaps" (2009). Honors Capstone Projects - All. 479.
https://surface.syr.edu/honors_capstone/479
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 License.
