Termination Date definition explanation

What is Termination Date?
The day on which a swap contract becomes invalid and no further exchanges will occur. A final payment is made upon a swap’s termination.

The termination date is also referred to as a swap’s “”expiration date”". Read more for examples and further explanation including related video clips and also comments

Example explains Termination Date
Unlike futures contracts, swaps are not standardized, allowing for more customized terms. While traded futures will all be settled on the third Friday of the expiration month, a swap may be terminated on whichever date the parties agree to.

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