fpml:crossRate

An optional element that allow for definition of the currency exchange rates used to cross between the traded currencies for non-base currency FX contracts.

Element information

Content

• Sequence [1..1]
  from type fpml:QuotedCurrencyPair
  fpml:currency1 [1..1]    The first currency specified when a pair of currencies is to be evaluated.
  fpml:currency2 [1..1]    The second currency specified when a pair of currencies is to be evaluated.
  fpml:quoteBasis [1..1]    The method by which the exchange rate is quoted.
  1. fpml:rate [1..1]    The exchange rate used to cross between the traded currencies.
  2. Sequence [0..1]
     1. fpml:spotRate [1..1]    An optional element used for FX forwards and certain types of FX OTC options. For deals consumated in the FX Forwards Market, this represents the current market rate for a particular currency pair.
     2. fpml:forwardPoints [0..1]    An optional element used for deals consumated in the FX Forwards market. Forward points represent the interest rate differential between the two currencies traded and are quoted as a preminum or a discount. Forward points are added to, or subtracted from, the spot rate to create the rate of the forward trade.

Attributes

None

Used in

• Type fpml:ExchangeRate (Element fpml:exchangeRate)
• Type fpml:GenericProductExchangeRate (Element fpml:exchangeRate)

Sample instance

<crossRate>
   <currency1>GBP</currency1>
   <currency2>USD</currency2>
   <quoteBasis>Currency2PerCurrency1</quoteBasis>
   <rate>1.4800</rate>
</crossRate>