What does each of the following parties occupy position in the swap market ?
a. INTEX Corporation pays a fixed interest rate of 9 percent and receives a floating interest rate equal to the 3- month Treasury bill rate.
b. Cross Timbers International, Ltd. pays out an interest rate based on the 6 - month LIBOR rate and receives a long-term, fixed rate of 10 percent.
c. Montgomery Securities pays out and also receives an interest rate based upon a flexible 12-month LIBOR interest rate and also receives a fixed rate of 9.5 percent, while paying out a fixed rate of 9.3 percent.
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