DEFINITION of 'Swap'. Traditionally, the exchange of one security for another to change the maturity (bonds), quality of issues (stocks or bonds), or because investment objectives have changed. Recently, swaps have grown to include currency swaps and interest rate swaps.Next Up.REAKING DOWN 'Swap'. If firms in separate countries have comparative advantages on interest rates, then a swap could benefit both firms. For example, one firm may have a lower fixed interest rate, while another has access to a lower floating interest rate. These firms could swap to take advantage of the lower rates.
Delmar, Alabama. Delmar is a small, rural, unincorporated community in west-central Winston County, United States. Delmar is located six miles north of Natural Bridge, five miles south of Haleyville and 15 miles west of Double Springs, the county seat of what was once the Free State of Winston.. Delmar has an elevation of 881 feet above sea level.
The Alabama Department of Corrections operates the William E. Donaldson Correctional Facility, a prison for men, in unincorporated Jefferson County near Bessemer. The prison includes one of the two Alabama death rows for men.