fpml:premium

The option premium payable by the buyer to the seller.

Element information

Content

• Sequence [1..1]
  from type fpml:SimplePayment
  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.
  fpml:paymentAmount [1..1]    
  fpml:paymentDate [1..1]    The payment date. This date is subject to adjustment in accordance with any applicable business day convention.
  from group fpml:Premium.model
  Sequence [0..1]
  1. fpml:premiumType [0..1]    Forward start Premium type
  2. fpml:pricePerOption [0..1]    The amount of premium to be paid expressed as a function of the number of options.
  3. fpml:percentageOfNotional [0..1]    The amount of premium to be paid expressed as a percentage of the notional value of the transaction. A percentage of 5% would be expressed as 0.05.
  from group fpml:PaymentDiscounting.model
  Sequence [0..1]
  1. fpml:discountFactor [0..1]    The value representing the discount factor used to calculate the present value of the cash flow.
  2. fpml:presentValueAmount [0..1]    The amount representing the present value of the forecast payment.

Attributes

Used in

• Type fpml:OptionBaseExtended
• Type fpml:BondOption via extension of fpml:OptionBaseExtended (Element fpml:bondOption)
• Type fpml:CreditDefaultSwapOption via extension of fpml:OptionBaseExtended (Element fpml:creditDefaultSwapOption)

Sample instance

<premium>
   <payerPartyReference href="Party1"/>
   <receiverPartyReference href="Party2"/>
   <paymentAmount>
      <currency>JPY</currency>
      <amount>25000000</amount>
   </paymentAmount>
   <paymentDate>
      <adjustableDate>
         <unadjustedDate>2006-05-15</unadjustedDate>
         <dateAdjustments>
            <businessDayConvention>FOLLOWING</businessDayConvention>
            <businessCenters>
               <businessCenter>JPTO</businessCenter>
            </businessCenters>
         </dateAdjustments>
      </adjustableDate>
   </paymentDate>
   <premiumType>Fixed</premiumType>
</premium>