Definition of swap
A swap is an equal share exchange. For example, two players play a tournament for 500€. As soon as they are registered, they get 100% of their action. Players can decide to make a swap between them, i.e. to make a share exchange. Player 1 could say to player 2, I'll give you 10% of my tournament in exchange for 10% of your tournament shares. When the deal is made, the players will have to give the other player 10% of any money they win in the tournament. If Player 1 has a paid place of 1000€, he will give 100€ to Player 2.
The swap is mostly a tournament affair
The term swap is associated with the world of equities and the stock market, but also applies to poker. Poker tournaments should be viewed as an action that may or may not pay off. When you make a swap, in order to be fair, it is important that the tournament be of equal value. We also do swaps with players who are of the same caliber as us, otherwise the swap would not be fair.