Swap assignment(redirected from Swap Novation)
Related: Swap sale
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved