fpml:oilPhysicalLeg

Physically settled oil or refined products leg.

Element information

Content

• Sequence [1..1]
  from type fpml:PhysicalSwapLeg
  from group fpml:PayerReceiver.model
  fpml:payerPartyReference [1..1]    A reference to the party responsible for making the payments defined by this structure.
  fpml:payerAccountReference [0..1]    A reference to the account responsible for making the payments defined by this structure.
  fpml:receiverPartyReference [1..1]    A reference to the party that receives the payments corresponding to this structure.
  fpml:receiverAccountReference [0..1]    A reference to the account that receives the payments corresponding to this structure.
  1. fpml:deliveryPeriods [1..1]    The different options for specifying the Delivery or Supply Periods. Unless the quantity or price is to vary periodically during the trade or physical delivery occurs on a periodic basis, periodsSchedule should be used and set to 1T.
  2. fpml:oil [1..1]    The specification of the oil product to be delivered.
  3. fpml:deliveryConditions [1..1]    The physical delivery conditions for the transaction.
  4. fpml:deliveryQuantity [1..1]    The different options for specifying the quantity.

Attributes

Used in

• Group fpml:CommoditySwapDetails.model
• Type fpml:CommoditySwap via reference to fpml:CommoditySwapDetails.model (Element fpml:commoditySwap)
• Type fpml:CommoditySwaptionUnderlying via reference to fpml:CommoditySwapDetails.model (Element fpml:commoditySwap)

Substitution hierarchy

• fpml:commoditySwapLeg
  • can be substituted with fpml:oilPhysicalLeg

Sample instance

<oilPhysicalLeg>
   <payerPartyReference href="partyA"/>
   <receiverPartyReference href="partyB"/>
   <deliveryPeriods>
      <periodsSchedule id="deliveryPeriods">
         <periodMultiplier>1</periodMultiplier>
         <period>T</period>
         <balanceOfFirstPeriod>false</balanceOfFirstPeriod>
      </periodsSchedule>
   </deliveryPeriods>
   <oil>
      <type>CrudeOil</type>
      <grade>WTI</grade>
   </oil>
   <deliveryConditions>
      <pipeline>
         <pipelineName pipelineScheme="http://www.PartyA.com/pipeline-scheme-1-0">TeppcoSeawayCrude</pipelineName>
         <withdrawalPoint deliveryPointScheme="http://www.PartyA.com/delivery-point-scheme-oil-1-0">Cushing</withdrawalPoint>
         <deliverableByBarge>false</deliverableByBarge>
         <risk>FOB</risk>
      </pipeline>
   </deliveryConditions>
   <deliveryQuantity>
      <physicalQuantity id="deliveryQuantity">
         <quantityUnit>BBL</quantityUnit>
         <quantityFrequency>PerCalculationPeriod</quantityFrequency>
         <quantity>10000.0</quantity>
      </physicalQuantity>
   </deliveryQuantity>
</oilPhysicalLeg>