Swaption (also referred to in German)

Option on a swap. The buyer of the option has the right – against payment of an option premium – to enter into a swap at a contractually specified time with regard to maturity and interest rate (option under which the seller grants the purchaser the right, but not the obligation, to enter into a currency or interest rate swap at a predetermined price by or on a set date). – See option, swap, interest rate-related, sleepy warrant.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
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