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Extendable Swap

What does Extendable Swap mean?

An option that allows the holder to extend the life of the swap, on specified dates.  In an extendible swap, the provider has a right to extend the swap, at the end of the agreed period, for a further predetermined period.

Futures Knowledge Explains Extendable Swap

Some special types of swaps have the provisions to cancel or extend the swaps. A cancelable swap gives one party the right to cancel the swap on a specified day before the final maturity date.  On the other hand an extendable swap gives an option to a party to extend the swap further on specified dates.  For example, an interest rate extendable swap contains a feature that allows the fixed for floating party to extend the swap period.

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