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Swaps. Interest rate swaps. Pricing interest rate swaps. Financial benefits. Users and uses of interest rate swaps. Advantages and disadvantages of using interest rate swaps. Types of risk. Irs electronic trading platforms. The euro irs market. Conclusions.


The swaps is one of the main financial tools such as forwards, futures and options. The report identifies the basics of Interest Rate Swaps as a kind of swaps and its current situation in the market. The basic of objectives of this report are:
to reveal the principal information and facts about IRS and its mechanism;
to analyse the uses and users if IRS;
to submit facts about risk which is faced dealing with IRS;
to show weaknesses and strengths of using IRS;
to investigate the current situation of IRS and arising problems;
to investigate the euro IRS market in details.

The structure of report consists of several parts which include the general theory and practise part which is based on using IRS in present-day financial markets. The first part covers sections which describe swaps as a general financial tool and analyse interest rate swaps as a type of it in more details. Moreover, pricing and valuation mechanism, risks and financial benefits, uses and users of IRS are also discussed. It is esential to reveal advantages and disadvantages of using this fiancial tool in order to improve the usage of it by financial facilitators in nowadays financial market. Undoubtedly, the practice part investigates the situation of IRS and problems which arise when counterparties are dealing with IRS. The key information on it is gathered according to the activities of three basic banks such as JP Morgan, Bank of Amerika and Citigroup. Moreover, the basic attention of practise part focuses on the euro IRS market which is of vital importance currently and the it is going to increase in the near future.
The research concludes with the survey of results which arise from the report. It provides an overview of the final conclusions based on the IRS mechanism, pricing, risk and benefits and current situation.
In fact, the IRS market provides firms and banks the opportunity to use efficient way in order to manage the risk. Participants of IRS market are involves in the activity where they face from speculation to hedging. However, the basic objective of IRS market is to manage the interset rate and foreign currency risk in the operations and transactions of financial facilitators the most efficiently.
Talking about IRS in detail, it is essential to describe the main concepts. To begin with, a standart swap is an agreement between two or more parties to exchange sequences of cash flows over the period in the future. The cash flows that the counterparties make are generally tied to the value of debt instruments or to the value of foreign currencies. Whereas, IRS is an arrangement whereby one party exchanges one set of interest payments for another. In an IRS, the notional principal amount is set and each party pays a different interest rate applied to that amount – typically one is a fixed rate and the other is a variable rate. ...

Rašto darbo duomenys
Tinklalapyje paskelbta2005-10-10
DalykasEkonomikos referatas
Apimtis19 puslapių 
Literatūros šaltiniai10 (šaltiniai yra cituojami)
KalbaAnglų kalba
Dydis156.42 KB
Viso autoriaus darbų1 darbas
Metai2005 m
Švietimo institucijaVilniaus Gedimino Technikos Universitetas
Failo pavadinimasMicrosoft Word Swaps [speros.lt].doc




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  • Referatai
  • 19 puslapių 
  • Vilniaus Gedimino Technikos Universitetas / 3 Klasė/kursas
  • 2005 m
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