Commodity Swaps

These are all Over The Counter

Fixed-Floating Commodity Swap

Also know as Fixed-Floating Commodity Swap
the floating commodity market price (instead of a floating interest rate it is linked to the price of the commodity)
the fixed leg is the agreed price
at the end of every period, these cash flows net out and the party who must pay more will pay the difference

Commodity for Interest Swap

Also known as Floating-Floating Commodity Swap
Very similar to an Equity Swap
one floating rate is the commodity market price
the other floating rate is linked to an interest rate such as LIBOR

Commodity Index Swaps