CME Group » Interest Rates » Interest Rate Swap Futures Referenc
Interest Rate Swap Futures Reference Guide
Mon Jul 25 20:44:00 CDT 2011 CT
Related Keywords: Interest Rates, Getting Started, Market Fundamentals

Interest Rate Swap futures fill a vital need for exchange-traded derivatives that reference intermediate- and long-term plain vanilla swap rates. Because they are guaranteed by CME Clearing, they virtually eliminate counterparty credit risk. Combined with their standardization, low operational cost, and flexibility, this makes them ideal for managing swap rate exposures under a wide range of circumstances. This reference guide summarizes the terms and conditions of Swap futures, explains the mechanics of contract pricing, and discusses their hedge effectiveness.


 
 
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