Stock⇄Swap
The idea
The mechanics

The lifecycle

Match, price lock, transfer, settlement — four steps, one price moment.

See how it clears →

Old way vs. swap

Two orders and a cash gap, or one order and one fee.

Compare the two →

Swap stocks.
In one click.

You hold $1,000 in Tesla but you'd rather own Nvidia. On StockSwap you make the trade in one transaction — no sell order, no idle cash, no buy-back.

Swap ticket Illustrative · not live
Price $248.50 · Tesla, Inc.
4.024 sh
Price $176.20 · NVIDIA Corp.
5.667 sh
Swap ratio
1.410 NVDA/TSLA
Fee · 15 bp
$1.50
Settlement
T+1 · Sep 10, 2026
Your holdings
    Today's moversIllustrative
    TSLA$248.50 · ▲0.8%
    NVDA$176.20 · ▲1.4%
    AAPL$227.30 · ▼0.3%
    MSFT$419.80 · ▲0.2%
    AMZN$178.40 · ▼0.6%
    GOOGL$164.10 · ▲0.9%
    Why

    Cash is a middleman you didn't ask for.

    The classic route from one stock to another runs through cash. You sell Tesla, wait for settlement, watch the money land, then buy Nvidia.

    Two orders, two commissions, and a gap in the middle where you own neither. That gap isn't free — while the money sits still, the market can move 1–2% in a morning, sometimes more. You decided to change horses, not to step off the track for two days.

    StockSwap removes the middleman. The order is matched against opposing liquidity in both stocks at once, both legs are priced at the midpoint in the same millisecond, and the holdings move directly. There is still one point of friction — the bid–ask spread — but that's all.

    The rest of this page is the detail: how a swap clears, what it costs, and where it isn't a shortcut.

    Cash dragThe stretch where capital sits in cash with no exposure to the market. Short, but not zero.

    MidpointThe average of the best bid and best offer. Both legs of the swap settle here.

    T+1Trade date plus one business day. The standard settlement cycle for US equities since May 2024.

    Lifecycle

    How a swap clears.

    01

    Match

    Your order is matched against opposing liquidity in both stocks at the same time. No partial fill without a counterparty on both legs.

    02

    Price lock

    Both stocks are priced at the midpoint in the same instant. The spread is your only point of friction — typically a few basis points on liquid names.

    03

    Transfer

    Shares move between accounts as a swap. No cash account is credited or debited along the way.

    04

    Settlement

    Both legs settle T+1. Fractions are kept to three decimals, and dividend rights follow the new holding.

    Comparison

    The old way versus the swap.

    Sell → cash → buy

    • Sell order on TSLA, waiting on T+1
    • Proceeds sit in cash in the meantime
    • The market can move before you're back in
    • Buy order on NVDA at a different price, a different moment
    • Two commissions, two records, two timestamps

    One swap

    • One order covers both legs
    • Both prices locked in the same millisecond
    • Capital is never in cash
    • Market exposure is kept the whole way
    • One fee — 15 basis points of the swap value
    Details

    What you actually get.

    No cash middleman

    The swap is a direct exchange of holdings. Your cash account never sees the transaction — there's no payout to time and no deposit to wait on.

    Market-neutral within the swap

    Because both legs hit the same price moment, a move in the broad market doesn't shift the ratio between the two stocks.

    Fractions carry over

    $1,000 in Tesla becomes 5.667 Nvidia shares — not 5 shares and a remainder lost to rounding.

    One fee, not two

    15 basis points of the swap value, one record. No double commission, no FX spread on an intermediate cash balance.