In less than 20 years Swaps have become the primary tool available to everyone involved in financial risk management. They have also been used to generate massive gains through speculation and are at the heart of some spectacular financial disasters. This indispensable guide shows how the various Swap products and the World's Swaps market really work. In easy-to-follow language it is a perfect introduction to the subject. Learn: * How Swaps have transformed financial markets * What they are and how they work in simple terms * About interest rate, currency and esoteric Swap Structures * The use of Swaps in the balance sheet * The importance of Swaps to Bankers, traders and corporate treasurers * Also Swap valuation, accounting, tax, capital adequacy and other aspects.