# fpml:boundedVariance

Conditions which bound variance. The contract specifies one or more boundary levels. These levels are expressed as prices for confirmation purposes Underlyer price must be equal to or higher than Lower Barrier is known as Up Conditional Swap Underlyer price must be equal to or lower than Upper Barrier is known as Down Conditional Swap Underlyer price must be equal to or higher than Lower Barrier and must be equal to or lower than Upper Barrier is known as Barrier Conditional Swap.

## Element information

Namespace: http://www.fpml.org/FpML-5/confirmation

Schema document: fpml-eq-shared-5-5.xsd

Type: fpml:BoundedVariance

Properties: Local, Qualified

## Content

- Sequence [1..1]
- fpml:realisedVarianceMethod [1..1] The contract specifies whether which price must satisfy the boundary condition.
- fpml:daysInRangeAdjustment [1..1] The contract specifies whether the notional should be scaled by the Number of Days in Range divided by the Expected N. The number of Days in Ranges refers to the number of returns that contribute to the realized volatility.
- fpml:upperBarrier [0..1] All observations above this price level will be excluded from the variance calculation.
- fpml:lowerBarrier [0..1] All observations below this price level will be excluded from the variance calculation.

## Attributes

*None*

## Used in

- Type fpml:Variance (Element fpml:variance)

## Sample instance

<boundedVariance> <realisedVarianceMethod>Previous</realisedVarianceMethod> <daysInRangeAdjustment>true</daysInRangeAdjustment> <upperBarrier>101.00</upperBarrier> <lowerBarrier>94.00</lowerBarrier> </boundedVariance>