Swap - konstrukcja kontraktu, rynek i ryzyko
Abstract
The article outlines the issues of swap transactions (specificity and types), contract structure,
market behaviour during recent market turmoil and transactions characteristic risk. The exchange
rate risk is one of the most significant in conducting business activities. So, searching the most
effective way for stabilize the economic process we should consider usage of swap. The contract
construction guaranties that it is sure to obtain satisfying level of exchange rate risk protection and
fair cost decrease. The contract assures gaining funds in particular currency at lower cost level,
making financial management of future cash flows much more predictable. Hence, the attention is
paid to the financial mechanism of the swap contract. Although, the market performs effectively
during normal times, we should consider and pay special attention to the proper investment and
funding strategy, in particular in time of market stress.
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