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Possible Answers:
SWAP.
Last seen on: NY Times Crossword 11 Jan 23, Wednesday
Random information on the term “Exchange”:
Gas exchange is the physical process by which gases move passively by diffusion across a surface. For example, this surface might be the air/water interface of a water body, the surface of a gas bubble in a liquid, a gas-permeable membrane, or a biological membrane that forms the boundary between an organism and its extracellular environment.
Gases are constantly consumed and produced by cellular and metabolic reactions in most living things, so an efficient system for gas exchange between, ultimately, the interior of the cell(s) and the external environment is required. Small, particularly unicellular organisms, such as bacteria and protozoa, have a high surface-area to volume ratio. In these creatures the gas exchange membrane is typically the cell membrane. Some small multicellular organisms, such as flatworms, are also able to perform sufficient gas exchange across the skin or cuticle that surrounds their bodies. However, in most larger organisms, which have a small surface-area to volume ratios, specialised structures with convoluted surfaces such as gills, pulmonary alveoli and spongy mesophyll provide the large area needed for effective gas exchange. These convoluted surfaces may sometimes be internalised into the body of the organism. This is the case with the alveoli, which form the inner surface of the mammalian lung, the spongy mesophyll, which is found inside the leaves of some kinds of plant, or the gills of those molluscs that have them, which are found in the mantle cavity.
Random information on the term “SWAP”:
In finance, a swap is an agreement between two counterparties to exchange financial instruments, cashflows, or payments for a certain time. The instruments can be almost anything but most swaps involve cash based on a notional principal amount.
The general swap can also be seen as a series of forward contracts through which two parties exchange financial instruments, resulting in a common series of exchange dates and two streams of instruments, the legs of the swap. The legs can be almost anything but usually one leg involves cash flows based on a notional principal amount that both parties agree to. This principal usually does not change hands during or at the end of the swap;this is contrary to a future, a forward or an option.
In practice one leg is generally fixed while the other is variable, that is determined by an uncertain variable such as a benchmark interest rate, a foreign exchange rate, an index price, or a commodity price.