DEFINITION of 'FixedForFloating Swap'
An advantageous arrangement between two parties (counterparties), in which one party pays a fixed rate, while the other pays a floating rate.
INVESTOPEDIA EXPLAINS 'FixedForFloating Swap'
To understand how each party would benefit from this type of arrangement, consider a situation where each party has a comparative advantage to take out a loan at a certain rate and currency. For example, Company A can take out a loan with a oneyear term in the U.S. for a fixed rate of 8% and a floating rate of Libor + 1% (which is comparatively cheaper, but they would prefer a fixed rate). On the other hand, Company B can obtain a loan on a oneyear term for a fixed rate of 6%, or a floating rate of Libor +3%, consequently, they'd prefer a floating rate.
Through an interest rate swap, each party can swap its interest rate with the other to obtain its preferred interest rate
Note that swap transactions are often facilitated by a swap dealer, who will act as the required counterparty for a fee.

ToppingUp Clause
A condition implemented in a backtoback or twocurrency loan. ... 
FixedForFixed Swaps
An arrangement between two parties (known as counterparties) ... 
Interest Rate Swap
An agreement between two parties (known as counterparties) where ... 
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Traditionally, the exchange of one security for another to change ... 
Arrears Swap
An interest rate swap in which the floating payment is based ...

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