fpml:CommodityOption

Defines a commodity option product type. 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.

Complex type information

Content

• Sequence [1..1]
  from type fpml:Product
  from group fpml:Product.model
  Sequence [0..1]
  1. fpml:primaryAssetClass [0..1]    A classification of the most important risk class of the trade. FpML defines a simple asset class categorization using a coding scheme.
  2. fpml:secondaryAssetClass [0..*]    A classification of additional risk classes of the trade, if any. FpML defines a simple asset class categorization using a coding scheme.
  3. fpml:productType [0..*]    A classification of the type of product. FpML defines a simple product categorization using a coding scheme.
  4. fpml:productId [0..*]    A product reference identifier. The product ID is an identifier that describes the key economic characteristics of the trade type, with the exception of concepts such as size (notional, quantity, number of units) and price (fixed rate, strike, etc.) that are negotiated for each transaction. It can be used to hold identifiers such as the "UPI" (universal product identifier) required by certain regulatory reporting rules. It can also be used to hold identifiers of benchmark products or product temnplates used by certain trading systems or facilities. FpML does not define the domain values associated with this element. Note that the domain values for this element are not strictly an enumerated list.
  5. fpml:assetClass [0..*]    A classification of the risk class of the trade. FpML defines a simple asset class categorization using a coding scheme.
  from group fpml:BuyerSeller.model
  fpml:buyerPartyReference [1..1]    A reference to the party that buys this instrument, ie. pays for this instrument and receives the rights defined by it. See 2000 ISDA definitions Article 11.1 (b). In the case of FRAs this the fixed rate payer.
  fpml:buyerAccountReference [0..1]    A reference to the account that buys this instrument.
  fpml:sellerPartyReference [1..1]    A reference to the party that sells ("writes") this instrument, i.e. that grants the rights defined by this instrument and in return receives a payment for it. See 2000 ISDA definitions Article 11.1 (a). In the case of FRAs this is the floating rate payer.
  fpml:sellerAccountReference [0..1]    A reference to the account that sells this instrument.
  1. fpml:optionType [1..1]    The type of option transaction.
  2. Choice [1..1]
     from group fpml:CommodityFinancialOption.model
     Sequence [1..1]
     1. fpml:commodity [1..1]    Specifies the underlying instrument. Usual content is an ISDA Commodity Reference Price Name. The 'commodity' underlyer component is specified using a reference to the 'commodity' asset (see description above at the Commodity Underlyer section).
     from group fpml:CommodityOptionFeatures.model
     Sequence [0..1]
     1. fpml:effectiveDate [1..1]    The effective date of the Commodity Option Transaction. Note that the Termination/Expiration Date should be specified in expirationDate within the CommodityAmericanExercise type or the CommodityEuropeanExercise type, as applicable.
     2. fpml:terminationDate [0..1]    Specifies the termination date of the Commodity Option Transaction. In some confirmations this will be indicated as the second date in "Option Term" or "Term". Note: If provided, terminationDate should not be before specified expirationDate within the CommodityAmericanExercise type or the CommodityEuropeanExercise type.
     from group fpml:CommodityAsian.model
     Sequence [0..1]
     1. Choice [1..1]
        • fpml:calculationPeriodsSchedule    A parametric representation of the Calculation Periods of the Commodity Option Transaction.
        • fpml:calculationPeriods    An absolute representation of the Calculation Period start dates of the Commodity Option Transaction.
     2. fpml:pricingDates [1..1]    The dates on which the option will price.
     3. fpml:averagingMethod [0..1]    The Method of Averaging if there is more than one Pricing Date.
     from group fpml:CommodityNotionalQuantity.model
     Choice [1..1]
     • Sequence [1..1]
       1. Choice [1..1]
          • fpml:notionalQuantitySchedule    Allows the documentation of a shaped notional trade where the notional changes over the life of the transaction.
          • fpml:notionalQuantity    The Notional Quantity.
          • fpml:settlementPeriodsNotionalQuantity [1..*]    For an electricity transaction, the Notional Quantity for a one or more groups of Settlement Periods to which the Notional Quantity is based. If the schedule differs for different groups of Settlement Periods, this element should be repeated.
       2. fpml:totalNotionalQuantity [0..1]    The Total Notional Quantity.
     • fpml:quantityReference    A pointer style reference to a quantity defined on another leg.
     2. fpml:exercise [1..1]    The parameters for defining how the commodity option can be exercised and how it is settled.
     3. Choice [1..1]
        from group fpml:CommodityStrikePrice.model
        fpml:strikePricePerUnit    The currency amount of the strike price per unit.
        fpml:strikePricePerUnitSchedule    
        from group fpml:CommodityFloatingStrikePrice.model
        fpml:floatingStrikePricePerUnit    The currency amount of the strike price per unit.
        fpml:floatingStrikePricePerUnitSchedule    
     from group fpml:CommodityPhysicalOption.model
     Sequence [1..1]
     1. Choice [1..1]
        • fpml:commoditySwap    DEPRECATED. Defines a commodity swap product.
        • fpml:commodityForward    Defines a commodity forward product.
     2. fpml:physicalExercise [1..1]    The parameters for defining how the commodity option can be exercised into a physical transaction.
     from group fpml:CommodityWeatherOption.model
     Sequence [1..1]
     1. fpml:effectiveDate [1..1]    Effective date of an option.
     from group fpml:WeatherCalculationPeriod.model
     Choice [1..1]
     • fpml:weatherCalculationPeriods    
     • fpml:weatherCalculationPeriodsReference    
     2. fpml:weatherNotionalAmount [1..1]    
     3. fpml:exercise [1..1]    
     4. fpml:weatherIndexStrikeLevel [1..1]    Weather Index strike price level is specified in terms of weather index units (e.g. 1 Days, 3 Inches, etc.)
     5. fpml:calculation [1..1]    Contains parameters which figure in the calculation of payments on a Weather Index Option.
     6. fpml:weatherIndexData [1..1]    Specifies where the data (e.g. CPD) have been collected, an actual physical reference point (weather station) and various fall back arrangements.
  3. fpml:premium [1..*]    The option premium payable by the buyer to the seller.
  from group fpml:CommodityContent.model
  Sequence [0..1]
  1. fpml:commonPricing [0..1]    If Common Pricing is elected (“true”) for a Transaction with referencing more than one Commodity Reference Price then no date will be a Pricing Date unless such a date is a day on which all Commodity Reference Prices are scheduled to be published.
  2. fpml:marketDisruption [0..1]    Contains contract terms related to triggers and responses to market disruptions as defined in the 1993 or 2005 Commodity Definitions.
  3. fpml:settlementDisruption [0..1]    Describes contract terms related to the consequences of Bullion Settlement Disruption Events.
  4. fpml:rounding [0..1]    Rounding direction and precision for amounts.

Attributes

Used by

• Element fpml:commodityOption

Type inheritance chain

• fpml:Product
  • fpml:CommodityOption