In quantum computing and specifically the quantum circuit model of computation, a quantum logic gate (or simply quantum gate) is a basic quantum circuit operating on a small number of qubits. They are the building blocks of quantum circuits, like classical logic gates are for conventional digital circuits. Unlike many classical logic gates, quantum logic gates are reversible. It is possible to perform classical computing using only reversible gates.
In computer science, the controlled NOT gate (also C-NOT or CNOT), controlled-X gate, controlled-bit-flip gate, Feynman gate or controlled Pauli-X is a quantum logic gate that is an essential component in the construction of a gate-based quantum computer. It can be used to entangle and disentangle Bell states. Any quantum circuit can be simulated to an arbitrary degree of accuracy using a combination of CNOT gates and single qubit rotations. The gate is sometimes named after Richard Feynman who developed an early notation for quantum gate diagrams in 1986.
In logic circuits, the Toffoli gate (also CCNOT gate), invented by Tommaso Toffoli, is a universal reversible logic gate, which means that any classical reversible circuit can be constructed from Toffoli gates. It is also known as the "controlled-controlled-not" gate, which describes its action. It has 3-bit inputs and outputs; if the first two bits are both set to 1, it inverts the third bit, otherwise all bits stay the same. An input-consuming logic gate L is reversible if it meets the following conditions: L(x) = y is a gate where for any output y, there is a unique input x.
In finance, a swap is an agreement between two counterparties to exchange financial instruments, cashflows, or payments for a certain time. The instruments can be almost anything but most swaps involve cash based on a notional principal amount. The general swap can also be seen as a series of forward contracts through which two parties exchange financial instruments, resulting in a common series of exchange dates and two streams of instruments, the legs of the swap.
In finance, a currency swap (more typically termed a cross-currency swap, XCS) is an interest rate derivative (IRD). In particular it is a linear IRD, and one of the most liquid benchmark products spanning multiple currencies simultaneously. It has pricing associations with interest rate swaps (IRSs), foreign exchange (FX) rates, and FX swaps (FXSs). A cross-currency swap's (XCS's) effective description is a derivative contract, agreed between two counterparties, which specifies the nature of an exchange of payments benchmarked against two interest rate indexes denominated in two different currencies.
