fpml:optionalEarlyTermination

An option for either or both parties to terminate the swap at fair value.

Element information

Content

• Sequence [1..1]
  1. fpml:singlePartyOption [0..1]    If optional early termination is not available to both parties then this component specifies the buyer and seller of the option.
  2. Choice [1..1]
     from subst. group fpml:exercise
     fpml:americanExercise    The parameters for defining the exercise period for an American style option together with any rules governing the notional amount of the underlying which can be exercised on any given exercise date and any associated exercise fees.
     fpml:bermudaExercise    The parameters for defining the exercise period for a Bermuda style option together with any rules governing the notional amount of the underlying which can be exercised on any given exercise date and any associated exercise fees.
     fpml:europeanExercise    The parameters for defining the exercise period for a European style option together with any rules governing the notional amount of the underlying which can be exercised on any given exercise date and any associated exercise fees.
  3. fpml:exerciseNotice [0..*]    Definition of the party to whom notice of exercise should be given.
  4. fpml:followUpConfirmation [0..1]    A flag to indicate whether follow-up confirmation of exercise (written or electronic) is required following telephonic notice by the buyer to the seller or seller's agent.
  5. fpml:calculationAgent [1..1]    The ISDA Calculation Agent responsible for performing duties associated with an optional early termination.
  6. fpml:cashSettlement [1..1]    If specified, this means that cash settlement is applicable to the transaction and defines the parameters associated with the cash settlement prodcedure. If not specified, then physical settlement is applicable.
  7. fpml:optionalEarlyTerminationAdjustedDates [0..1]    An early termination provision to terminate the trade at fair value where one or both parties have the right to decide on termination.

Attributes

None

Used in

• Group fpml:OptionalEarlyTermination.model
• Type fpml:EarlyTerminationProvision via reference to fpml:OptionalEarlyTermination.model (Elements fpml:earlyTerminationProvision, fpml:earlyTerminationProvision)

Sample instance

<optionalEarlyTermination>true</optionalEarlyTermination>