Swap assignment financial definition of Swap assignment
in which one party pays
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
References in periodicals archive
Chloe sags she used to swap assignments
with her friends and jot down secret notes for tests "all the time." Until she got caught, that is.
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.
On the next experiment, swap assignments
so everyone gets a chance to participate.