Schema Central > FpML 5.5 Confirmation > fpml-com-5-5.xsd > fpml:commodityOption
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fpml:commodityOption

Defines a commodity option product. The product support for financially-settled exercises or exercise into physical forward contracts written on precious and non-precious metals. options in FpML is based on the creation of a 'commodityOption' product. The product references the 'commodity' underlyer in order to support the underlying asset of the option.

Element information

Type: fpml:CommodityOption

Properties: Global, Qualified

Content

Attributes

NameOccTypeDescriptionNotes
id [0..1]xsd:IDfrom type fpml:Product

Used in

Substitution hierarchy

Sample instance

<commodityOption>
   <productType>CommodityOption</productType>
   <assetClass>Commodity</assetClass>
   <buyerPartyReference href="partyA"/>
   <sellerPartyReference href="partyB"/>
   <optionType>Put</optionType>
   <commodity>
      <instrumentId instrumentIdScheme="http://www.fpml.org/coding-scheme/commodity-reference-price-1-0">OIL-WTI-NYMEX</instrumentId>
      <specifiedPrice>Settlement</specifiedPrice>
      <deliveryDates>FirstNearby</deliveryDates>
   </commodity>
   <effectiveDate>
      <adjustableDate>
         <unadjustedDate>2007-06-01</unadjustedDate>
         <dateAdjustments>
            <businessDayConvention>NotApplicable</businessDayConvention>
         </dateAdjustments>
      </adjustableDate>
   </effectiveDate>
   <calculationPeriodsSchedule id="CalculationPeriods">
      <periodMultiplier>1</periodMultiplier>
      <period>M</period>
      <balanceOfFirstPeriod>false</balanceOfFirstPeriod>
   </calculationPeriodsSchedule>
   <pricingDates>
      <calculationPeriodsReference href="CalculationPeriods"/>
      <dayType>CommodityBusiness</dayType>
      <dayDistribution>All</dayDistribution>
      <businessCalendar>NYMEX-OIL</businessCalendar>
      <calendarSource>ListedOption</calendarSource>
   </pricingDates>
   <notionalQuantity>
      <quantityUnit>BBL</quantityUnit>
      <quantityFrequency>PerCalculationPeriod</quantityFrequency>
      <quantity>15000</quantity>
   </notionalQuantity>
   <totalNotionalQuantity>15000</totalNotionalQuantity>
   <exercise>
      <europeanExercise>
         <expirationDate>
            <adjustableDate>
               <unadjustedDate>2007-06-30</unadjustedDate>
               <dateAdjustments>
                  <businessDayConvention>NotApplicable</businessDayConvention>
               </dateAdjustments>
            </adjustableDate>
         </expirationDate>
      </europeanExercise>
      <settlementCurrency>USD</settlementCurrency>
      <relativePaymentDates>
         <payRelativeTo>CalculationPeriodEndDate</payRelativeTo>
         <calculationPeriodsReference href="CalculationPeriods"/>
         <paymentDaysOffset>
            <periodMultiplier>5</periodMultiplier>
            <period>D</period>
            <dayType>Business</dayType>
            <businessDayConvention>NONE</businessDayConvention>
         </paymentDaysOffset>
      </relativePaymentDates>
   </exercise>
   <strikePricePerUnit>
      <currency>USD</currency>
      <amount>88</amount>
   </strikePricePerUnit>
   <premium>
      <payerPartyReference href="partyA"/>
      <receiverPartyReference href="partyB"/>
      <paymentDate>
         <adjustableDate>
            <unadjustedDate>2007-04-12</unadjustedDate>
            <dateAdjustments>
               <businessDayConvention>NotApplicable</businessDayConvention>
            </dateAdjustments>
         </adjustableDate>
      </paymentDate>
      <paymentAmount>
         <currency>USD</currency>
         <amount>32000</amount>
      </paymentAmount>
      <premiumPerUnit>
         <currency>USD</currency>
         <amount>2.13</amount>
      </premiumPerUnit>
   </premium>
   <marketDisruption>
      <marketDisruptionEvents>AsSpecifiedInMasterAgreement</marketDisruptionEvents>
      <disruptionFallbacks>AsSpecifiedInMasterAgreement</disruptionFallbacks>
   </marketDisruption>
</commodityOption>

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