问题如下：
Which of the following derivatives allows an investor to pay the return on a stock index and receive a fixed rate?
选项：
A.Equity swap
B.Stock warrant
C.Index futures contract
解释：
A is correct. Equity swaps, also known as index swaps, are quite popular and permit investors to pay the return on one stock index and receive the return on another index or a fixed rate. B is incorrect because warrants are options that are sold directly to the public, allowing holders to exercise and buy shares directly from the company as opposed to using stock indexes to determine returns. C is incorrect because although index derivatives in the form of options, forwards, futures, and swaps are very popular, paying the return on a stock index and receiving a fixed rate describes an equity swap (or index swap), not a futures contract. 32
老师，您好。可以讲一下这道题么？三个选项都讲一下，谢谢。
