/ˈpeɪ.ɚ/
noun
One who pays; specifically, the person by whom a bill or note has been, or should be, paid.A swaption which gives its holder the option to enter into a swap in which they pay the fixed leg and receive the floating leg.
noun
One who pays; specifically, the person by whom a bill or note has been, or should be, paid.A swaption which gives its holder the option to enter into a swap in which they pay the fixed leg and receive the floating leg.