A swaption in which the buyer has the right to enter into a swap as a fixed - rate payer 买方有权选择是否执行收取固定利息，支付浮动利息的利率交换，而卖方应买方要求履约。
2.
The essay has also proposed the combined hedging tactics of preventing credit risks and option with option margin and the method of adopting stock option to address the issue of trustee or agent risks . it has constructed its option model relating to rate and exchange risks to manage interest rate risk through the implementation of interest rate guarantee , caps and floors as well as swaption 综上，我们认为在经济学中，风险的定义，是指人们由于对未来行为的诀策及客观条件下的不确定性，而导致实际结果与预期结果之间的偏差程度，这种不确定性既可能带来正面，也可能带来负面的影响。
