Swap assignment

Swap assignment

Related: Swap sale

Swap Assignment

A swap in which one party pays a leg to the counterparty, then assigns the other leg to a third party. Thus, the first party steps out of the deal, receiving or paying the net amount of the deal. It is also called a swap sale or swap novation.
References in periodicals archive ?
While termination of both swaps remains an option to OCTA due to the Lehman payment default and Bear Stearns swap assignment, the swaps currently carry a negative value and would result in an aggregate $12.
Bryant asked to swap assignments with Derek Fisher, taking Westbrook and leaving Thabo Sefolosha to Fisher.
Lina and Doon decide to swap assignments, forging a friendship which blossoms when the youngsters discover coded papers that could save Ember and its inhabitants.