swap

swap, n. Commercial law.

1. An exchange of one security for another.

2. A financial transaction between two parties, usu. involving an intermediary or dealer, in which payments or rates are exchanged over a specified period and according to specified conditions.

currency swap. An agreement to swap specified payment obligations denominated in one currency for specified payment obligations denominated in a different currency.

stock swap. In a corporate reorganization, an exchange of one corporation’s stock for another corporation’s stock. [Cases: Corporations 573, 575.]

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法律翻译Celia，毕业于新加坡知名法学院，专注翻译各类与酒店、博彩及休闲有关的法律文件。