Use case · Treasury operations
I run a book of swaps — which payments settle this week, and are the amounts right?
The book has grown. What started as one hedge is now a page of swaps — asset swaps, deposit swaps, a cross-currency position — and every period one of them pays or receives. The floating leg fixes a couple of days before it settles, and that's the moment the amount becomes real. You need to know, in one glance, what settles in the next couple of days and whether the number is right — before the cash leaves the building.
Last updated: July 2026 · Based on real workflows from BlueGamma customer treasuries
BlueGamma surfaces every swap cashflow due across your book in the next 48 hours, right on the Swap MtM page — with each amount flagged Confirmed once its floating rate has fixed, or Projected while it's still estimated off the forward curve. Nothing to set up: it reads the swaps already in your book. BlueGamma is an interest rate data and pricing platform used by 80+ financial institutions for swap rates, forward curves and cap pricing across 30+ currencies.
How treasuries track this now
However a growing swap book is tracked today, the same gap shows up: you find out what settled after it settled, or you take the counterparty's word for the amount.
A diary in a spreadsheet
Someone keeps a tab of every swap's payment dates and updates it by hand. It works until the book grows, a date lands on a bank holiday, or the person maintaining it is on leave — and a payment surprises you the morning it settles.
Waiting for the bank's advice
The counterparty tells you what's due. But the bank marks its own trade, the advice often arrives close to the settlement date, and when the figure looks off there's little time — and little transparency — to challenge it before the money moves.
Re-deriving the fixing by hand
To check the amount you pull the fixing, apply the day count and compounding, net it against the fixed leg — per swap, every period. One convention set slightly wrong and the check quietly agrees with a number that isn't right.
A full TMS for a job this small
A treasury management system will do it — bundled with liquidity and capital-reporting modules you didn't ask for, at a five-figure annual price. For a treasury that just needs to see what settles this week, it's a lot of system for one line of visibility.
How it works
It lives in the Swap MtM portfolio view, next to the book it already reads. No new module, no import.
Your swaps are already the source
The view runs off the executed swaps in your Swap MtM book — the same trades you value each month-end. Add a swap once (amortising profiles supported, pasted straight from Excel) and its cashflows are tracked from then on. There is no separate payment calendar to maintain.
Open Swap MtM — the next 48h sit at the top
A Payments due · next 48h line sits in the portfolio summary. When nothing is due it stays out of the way; when something is coming, it lists every swap across the whole book with a payment falling in the next two business days.
Read the net amount — Confirmed or Projected
Each row shows the swap, the payment date, the net cashflow and its currency. A Confirmed flag means the floating rate has fixed and the amount is final; a Projected flag means it's still an estimate off the forward curve. Due-today payments are highlighted so they don't slip past.
Click through to the full schedule
Any line jumps straight to that swap's Forecast Payments tab, where you can see the full period detail — fixing, day count, fixed and floating legs — behind the number.
Reconcile the amount, line up the cash
With an independent figure in front of you before settlement, you can confirm the amount, make sure the cash is in the right account, and query the bank on anything that disagrees — while there's still time to do something about it.
For this job specifically — how the options compare
Just the job of seeing what settles this week and checking the amount — not a full vendor comparison.
| Spreadsheet diary | Bank's payment advice | Treasury management system | BlueGamma | |
|---|---|---|---|---|
| Independent of the bank | Yes, but only as good as your inputs | No — the counterparty marks its own trade | Yes | Yes — priced off independent, broker-sourced curves |
| Whole book in one view | If someone keeps it current | One advice per trade, per bank | Yes | Every executed swap, every entity, at a glance |
| Amount confirmed when the rate fixes | Only if you recompute it | When the bank chooses to send it | Depends on the setup | Confirmed vs Projected flagged automatically |
| Setup to get the view | Build and maintain the diary yourself | None — but you wait for it | Implementation project | None — reads the swaps already in your book |
| Cost anchor | "Free" + a standing manual job | Free — but priced into the trade | Five figures a year, bundled | Included in the Swap MtM licence |
Where this comes from
The pattern behind the feature, from real treasury conversations.
A UK specialist bank's treasury runs a growing book of interest rate swaps hedging its lending. The trades are entered and tracked in BlueGamma and valued each month-end as an independent second source of truth — the same market data they lean on for regulatory reporting rather than relying on the counterparty's numbers. As the book grew, the operational question followed the valuation one: not just what is this worth, but what settles in the next couple of days, and is the amount right — the point at which cash actually moves. The Payments Due view answers exactly that, off the swaps already in the book.
The facts that matter for this workflow
FAQs
A swap cashflow whose payment date falls within the next two business days. Two business days is deliberate: for most floating legs the rate fixes roughly two business days before the payment date, so this is the window in which the amount stops being an estimate and becomes final. Business days rather than calendar days means a Monday payment already appears on the preceding Thursday instead of vanishing over the weekend.
Confirmed means the floating rate for that period has already fixed, so the net cashflow is factual — it is the number that will settle. Projected means the rate has not fixed yet, so the amount is still estimated off the live forward curve and can move slightly before it firms up. The two are labelled distinctly so treasury knows which figures they can reconcile to the penny and which are still an estimate.
No. The view reads the executed swaps already in your Swap MtM book and works out the schedule for you, so there is no separate diary to maintain. Add a swap once — currency, dates, frequency, fixed rate, amortising profile if it has one — and its payments appear here automatically as they fall due.
The bank is the counterparty to the trade, so its advice is not an independent check on the amount — and it often lands close to the settlement date, which leaves little time to query a discrepancy. Pricing the cashflow off independent, broker-sourced curves gives you a second source of truth on the number before the money moves, and the amount is confirmed the moment the floating rate fixes rather than when the bank chooses to send it.
Any swap you can price on BlueGamma — coverage spans 30+ currencies including SONIA, SOFR (with compounded-in-arrears and lookback conventions), EURIBOR, yen swaps on TONA or TIBOR, and benchmarks such as CORRA, BBSW, NIBOR, JIBAR and SAIBOR. If a swap is in your book, its upcoming payments show here regardless of the index.
It shows the net cashflow on the swap — the fixed leg against the floating leg — for that payment. Once the floating rate has fixed, that net figure is the amount due and is flagged Confirmed; before it fixes, it is the platform's best estimate off the forward curve. To see the full period detail behind any line, click through to that swap's Forecast Payments tab.
Put your book in. See what settles this week.
The 14-day trial includes the Swap MtM tool, amortising profiles and the payments-due view — load your swaps and watch the next 48 hours light up before you pay for anything.
Related use cases
Other jobs the same treasuries run on BlueGamma.