Etymology

novation

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Today it means: Replacement of a contract with one or more new contracts, in particular in financial markets the replacement of a contract between a particular buyer and seller with contracts between the clearing house and each party. Full definition →

Latin novātiō
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The story

  1. Latin · borrowed fromnovātiō“a renewing, rennovation”
  2. English todaynovation

Borrowed from Latin novātiō (“a renewing, rennovation”), from novō, from novus (“new”). Compare novel, novelty.

Etymology from Wiktionary, CC BY-SA 4.0.