Derivatives · glossary
The swap's two payment streams. Atlas pays the fixed leg, 3% on the notional, and receives the floating leg, three-month EURIBOR on the same notional and dates. Only the difference is paid each quarter, and traders call Atlas's position pay-fixed, receive-floating. Confirmation 1: Fixed Amounts · Chapter 2
Explained in Chapter 2, The Swap, Line by Line, of Derivatives.
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