1. Interest rate swap: it means that both parties agree to exchange cash flows according to the same nominal principal in the same currency in a certain period in the future, in which one party's cash is calculated at a floating interest rate and the other party's cash flow is calculated at a fixed interest rate.

2. Currency swap: refers to the exchange of principal and fixed interest of one currency with equivalent principal and fixed interest of another currency.

3. Commodity exchange: It is a special type of financial transaction. In order to manage commodity price risks, both parties agree to exchange cash flows related to commodity prices. Including fixed price and floating price commodity price swap, commodity price and interest rate swap.

4. Other swaps: equity swaps, credit swaps, futures swaps and swap options.

[Editor] Financial swap has been praised by western financial circles as the most important financial innovation since 1980s. Since the establishment of 1982, it has developed rapidly. Many large multinational banks and investment banking institutions provide swap services. The largest swap markets are the international financial markets in London and new york. By the end of 1992, all outstanding debts in the swap market had reached 665 billion pounds.