Developing of SWAP contracts is important which on the one hand decreasing cost of source on the other hand as a tool risk management that it is called hedging. Especially, interest Rate SWAPS to be given preference a financial tool by firms that it has low loan rating. To devoloping stock exchange and other financial markets must be vary financial instruments that deal with to improvement financial markets. Finally, interest Rate SWAPS is the one of first for developing forward market. In this sense, expanding the use of this tool in Azerbaijan in the development of both financial markets, but also will help to reduce operating costs of the debt. In this research, SWAP contracts were studied as a financial tool in Forward Markets.
Keywords: Debt Management, SWAP, Interest Rate SWAP, Currency SWAP