swaplet

English

Etymology

swap +‎ -let

Pronunciation

(UK) IPA^(key): /swɒplət/
(US) IPA^(key): /swɑplət/
Rhymes: -ɒplət, -ɑːplət

Noun

swaplet (plural swaplets)

(finance) an individual component in a swap
- 2009, Lixin Wu, “Volatility and Correlation Adjustments”, in Interest Rate Modeling: Theory and Practice, CRC Press, →ISBN, page 284:
  […] each piece of cash flows of a CMS swap (a so-called swaplet) […]
- 2012, Howard Corb, “Caps and Floors”, in Interest Rate Swaps and Other Derivatives, Columbia University Press, →ISBN, page 137:
  […] the payout […] is equal to the cash flow in an individual period resulting from paying fixed in a swap (known as a swaplet).
- 2016, Jan W. Dash, “Interest-Rate Swaps”, in Quantitative Finance and Risk Management: A Physicist's Approach, 2nd edition, World Scientific, →ISBN, page 96:
  The "swaplets" are the components of the swap and are discussed below.

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